NINETEEN steelmakers have signed on to a Queensland consortium seeking to build a $14b, 3300km rail line from Pilbara to the state.
The ambitious project is aimed at producing steel in Australia. Six blast furnaces will be located on each coast, for processing the produced pig iron. Currently, the iron ore and coal are being shipped overseas to produce steel.
According to East West Line Parks, industrial smelter hubs will be located at each end of the rail line. The 19 steel makers have signed three-year confidentiality agreements to find out more about the project.
They are also ready to commit around $1.1m each for a feasibility study. The study is expected to take just over two years to complete, while construction is set to start in 2010 or 2011.
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