North Queensland businesses are to be preferrenced in a Singaporean government investment in Townsvlle and Rockhampton defence bases.
Singapore is expected to spend $2.25 billion on infrastructure and upgrades at the Townsville Field Training Area and Shoalwater Bay Training Area.
Details concerning the Comprehensive Strategic Partnership were presented to Townsville Enterprise (TEL), Townsville Chamber of Commerce and Townsville Mayor Jenny Hill by the Australian Defence Minister Marise Payne and Singapore Defence Minister Dr Ng Eng Hen today (October 14).
This Memorandum of Understanding will see more thanr $1 billion invested into Townsville’s economy over the next 25 years,
The master plan and business plan is still in the development process, according to TEL.
Minister Payne announced the appointment of a Federal Government Liaison Officer, who will provide the North Queensland business community a direct point of contact to maximise their potential commercial opportunities.