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Sale of airport linked to business investment and new Jobs for the ACT Economy

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Media Statement - S27/98 Page 1 o f 2

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[Michael Ronaidson, Parliamentary Secretary] I Departmental 1

M e d i a

[Minister for Regional Development. Territories and Local Government] [Minister for Transport and Regional Development]

R e l e a s eTHE HON ALEX S( Minister for Regional Development, Territories and I 24 March 1998 S27/98


The long term lease and completion o f the Sale Agreement for Canberra Airport awarded to Capital Airports Group (CAG) will be a very powerful catalyst to growth for the Canberra region and the ACT economy said the Federal Minister for Territories, Alex Somlyay.

The Minister met with the executive chairman of CAG, Mr Terry Snow at Parliament House this afternoon to discuss how the consortium's $66.5 million investment in Canberra Airport could make a positive contribution to enhancing business investment and the creation o f real new jobs.

"My discussions with Terry Snow focused on his plans to redevelop the terminal and further promote commercial opportunities at the airport. He has a plan for a range of commercial activities at Canberra Airport that has the potential to win local business through a range of'value adding' proposals that have strong job creation outcomes.

"Mr Snow nominated the airport as a transport hub linking some key projects with the capacity to generate new jobs and win export business for the ACT region and Australia," Mr Somlyay said.

Capital Airports Group's initiatives for business stimulation include:

• Development o f the new high speed rail link to Canberra with a multi nodal transport terminal and interchange at the airport • Development o f a regional aircraft maintenance centre at the airport with the potential to create 75 jobs and $10 million per annum in economic activity • A joint university/aviation international pilot training school generating 100 new jobs, 300

students and a $15 million annual injection in to the Act economy • Establishment o f a new airlines reservation centre creating up to 200 new positions • Entry into a partnership with the ACT Government to develop a unique business high technology park using the federal Government's 'manufacturing in bond '(MiB) scheme

which could conduct manufacturing for export in a tax free trade zone. 04/06/1998

Media Statement - S27/98 Page 2 of 2

"Mr Snow and Capital Airport Group has signalled a $57 million upgrade of the Canberra airport over ten years to promote these business projects with the potential to generate major economic benefits for the Canberra region," said Mr Somlyay.

The Minister said the sale process, including the leasing o f the existing RAAF Fairbairn base which will be leased back to the Department o f Defence for the coming five years, will provide additional scope for ongoing commercial expansion when the RAAF are relocated at the end o f that time.

"I am committed to work with Kate Carnell and the ACT Government to make this consortiums plans a reality as quickly as possible following the completion of the contract arrangements by 30 June 1998 when CAG assumes operational control of Canberra airport," said Mr Somlyay.

Further information: Graeme Ballet (Minister's Office) 02-6277 7060

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