Tomago Aluminium has announced plans to develop an industrial park adjacent to its smelter over 15 years.
The Newcastle Herald reports that proposed 300 hectare industrial park would be opened in four stages, with economic modelling predicting the creation of 2,500 to 4,500 full-time jobs over this period.
Hunter Corporate Park, as the proposed site has been named, will be aimed at metal fabrication, distribution and other purposes. According to project manager Andrew MacKenzie there will be around $1.7 billion in construction work created.
"With the rapid increase of development in the area, we feel at Tomago, that it's an appropriate time to start releasing some of that land for further land,” he told the ABC.
"What we are really trying to do here is position the land so that it is available for development when opportunities arise.”
MacKenzie also cited the affordability and availability of land to potential industrial tenants, with prices in Sydney pushing locations closer to the city up in price.
The ABC reports that the venture also hopes to promote opportunities outside of the coal industry, which has slumped recently.
Community information sessions begin in June.
Image: Tomago Aluminium