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Minchin turns turf at V6 Holden engine plant.



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MINCHIN TURNS TURF AT V6 HOLDEN ENGINE PLANT 24 April 2001

24 April 2001             01/156

MINCHIN TURNS TURF AT V6 HOLDEN ENGINE PLANT

Minister for Industry, Science and Resources, Senator Nick Minchin reaffirmed the Federal Government’s commitment to a strong and robust automotive industry during today’s sod turning ceremony for Holden’s new V6 engine plant in Victoria.

“Today’s ceremony represents a milestone for Holden and Australia’s automotive industry. The Holden V6 engine plant being built on this site will be one of only two new generation V6 engine manufacturing plants in the General Motors world,” Senator Minchin said.

“Holden’s decision to build its new V6 engine in Australia is a real vote of confidence in the future of the car industry in Australia and confirms our reputation as a competitive, low cost, high technology auto manufacturer.

“Holden’s $400 million investment in Australia’s industry is due in no small part to the success of the Federal Government’s automotive policies. The new $2 billion Automotive Competitiveness and Investment Scheme which started in January 1 was a decisive factor in securing this investment.

“I am delighted to be part of this historic event as I worked closely with Holden to secure this project for Australia and I am pleased that the Federal Government has been able to assist Holden to bring this project to fruition.

“Our provision of a Strategic Investment Incentive of $12.5 million to Holden played a major part in getting this investment.

“This plant will be a cutting-edge example of innovation, the use of new materials and state of the art manufacturing processes.  The new engine technology will increase fuel efficiency by 10 percent.

“The most important aspect of the new engine plant being built here, is that it will provide jobs for Australians - creating up to 550 new jobs for Victoria, and producing more than 216,000 engines a year. Production is expected to start at the end of 2003.

“Access Economics has estimated that the engine plant will stimulate further new investment of $265 million and additional jobs for Australian component suppliers.

“The establishment of the new V6 plant here in Melbourne demonstrates that Holden has a bright future in

Australian automotive manufacturing.”

Media contact:  Jennifer Eddy, Senator Minchin’s office, 0262777580

CMR185-01

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