James McGrath (Queensland, Liberal National Party, Shadow Assistant Minister to the Leader of the Opposition) Share this | Hansard source

Prior the election the coalition government was supporting our regions and agricultural sector with record levels of funding for water infrastructure. This investment was especially critical in my home state of Queensland, where there's been I don't think a single dam built in the last 20 years. When you think of the record amount of rain that has fallen on our state and gone to waste during this La Nina cycle, would it not make sense to invest in water infrastructure to improve water security and drought resilience? At present the jewel in the crown of Queensland water projects is undoubtedly Urannah Dam, which the former coalition government supported to the tune of $498 million. This 970,000 megalitre dam is part of the visionary Urannah scheme, which includes the Bowen Renewable Energy Hub, the largest renewable baseload energy project in north Australia. Once operational, it will generate over 1,400 megawatts and reduce carbon emissions. The pumped hydroelectric plant has a storage capacity of eight hours and is co-located with solar, wind and a hydro equaliser to support export scale hydrogen production.

Not only this, Urannah Dam will feed the 20,000 hectare Collinsville Irrigation Scheme. This will deliver affordable water for the agriculture sector and open up opportunities to grow high-value crops on a large scale and facilitate export opportunities. Water security enables communities in Central Queensland to drive economic growth within their local communities and create long-term jobs in the regions.

Urannah Dam alone will create 1,800 ongoing jobs. However, the benefits will be felt far beyond Central and North Queensland, with the project to deliver $10.5 billion in economic benefits to Australia. Given all these benefits, it is exciting to see investment interest flowing in from all over the world. A Danish fund, Copenhagen Infrastructure Partners, are in advanced talks to partner in the project, which would power up to half a million Queensland homes. Copenhagen Infrastructure has identified the Bowen hub component as one of the most promising investments of its type in Queensland and is working closely with Bowen River Utilities and renewable energy partners on co-development and equity partnerships.

This is the future of water and energy in the great state of Queensland. This is nation-building infrastructure that any good government will support. So I call on the Albanese government and the state Labor government in Queensland to support the Urannah project in whatever way is required to get it built. Queensland's future prosperity depends on it. The project stacks up. It is good for Queensland and it is good for Australia. Let's get Urannah Dam built.