Oakajee Port project to become a reality

Oakajee Port in Western Australia to get underway following government deal to invest almost $680 million in the project

Work on the Oakajee Port in Western Australia is set to get underway in the next two years following a joint-government deal to invest almost $680 million in the project.

The Federal Government will allocate $339 million to the long-planned project, with Western Australia Premier Colin Barnett announcing his government will match the amount.

Describing it as "potentially the single-most important project" over the next 50 years, Barnett says Oakajee Port will boost Western Australia’s economy and open up the State’s iron ore industry.

Oakajee Port and Rail (OPR), the company currently behind the planning for the facility, welcomed the decision and say the commitment from both levels of government gives the project unprecedented support to become a major Australian development.

"Direct financial support for Oakajee from both the federal and state governments provides a massive boost for the project," OPR Chief Executive Officer Christopher Eves says.

"It indicates the widespread support for this project and demonstrates the highest levels of commitment to see the port and rail infrastructure developed as quickly as possible.

Before the announcement, OPR had signed an agreement with the State Government and has since opened commercial and technical discussions with Oakajee stakeholders including miners in Western Australia’s mid-west and potential Chinese participants.

The project has been in the pipeline for close to 10 years.

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