Mr. Ripper questions the funding of the Kingstream port project, specifically regarding the portion not covered by project revenue and its inclusion in the mid-year budget. Mr. Barnett confirms a contingency allowance but notes the project isn't yet committed.

AnsweredQoN 377Legislative Assembly
Asked
22 November 2000
Member
Portfolio
Energy

QuestionView source ↗

How much of the cost of the port will not be serviced by the revenue expected from the Kingstream project, and are those funds provided for in the mid-year budget review papers? The SPEAKER: That was a rather long single question! Mr BARNETT

AnswerView source ↗

The estimated cost of the port is $192m, plus or minus 20 per cent depending on construction conditions, which largely relate to seasonal climatic conditions. However, the final design may be below that - the Government does not know. Once that is committed, the Government will provide funding. The initial government commitment will be in the range of $60m to $80m, which will be funded through Treasury operations. However, it will not occur in one year - the construction period is about 32 months - but will be spread over a period. Mr Ripper: Will that be provided in the mid-year budget papers, which are due out in December? Mr BARNETT: There is a contingency allowance within Treasury for the Kingstream project, but the project is not committed. When the project is committed, it will be brought within Government accounts.
The SPEAKER: That was a rather long single question! Mr BARNETT replied: The estimated cost of the port is $192m, plus or minus 20 per cent depending on construction conditions, which largely relate to seasonal climatic conditions. However, the final design may be below that - the Government does not know. Once that is committed, the Government will provide funding. The initial government commitment will be in the range of $60m to $80m, which will be funded through Treasury operations. However, it will not occur in one year - the construction period is about 32 months - but will be spread over a period. Mr Ripper: Will that be provided in the mid-year budget papers, which are due out in December? Mr BARNETT: There is a contingency allowance within Treasury for the Kingstream project, but the project is not committed. When the project is committed, it will be brought within Government accounts.
Mr BARNETT replied: The estimated cost of the port is $192m, plus or minus 20 per cent depending on construction conditions, which largely relate to seasonal climatic conditions. However, the final design may be below that - the Government does not know. Once that is committed, the Government will provide funding. The initial government commitment will be in the range of $60m to $80m, which will be funded through Treasury operations. However, it will not occur in one year - the construction period is about 32 months - but will be spread over a period. Mr Ripper: Will that be provided in the mid-year budget papers, which are due out in December? Mr BARNETT: There is a contingency allowance within Treasury for the Kingstream project, but the project is not committed. When the project is committed, it will be brought within Government accounts.
The estimated cost of the port is $192m, plus or minus 20 per cent depending on construction conditions, which largely relate to seasonal climatic conditions. However, the final design may be below that - the Government does not know. Once that is committed, the Government will provide funding. The initial government commitment will be in the range of $60m to $80m, which will be funded through Treasury operations. However, it will not occur in one year - the construction period is about 32 months - but will be spread over a period. Mr Ripper: Will that be provided in the mid-year budget papers, which are due out in December? Mr BARNETT: There is a contingency allowance within Treasury for the Kingstream project, but the project is not committed. When the project is committed, it will be brought within Government accounts.
Mr Ripper: Will that be provided in the mid-year budget papers, which are due out in December? Mr BARNETT: There is a contingency allowance within Treasury for the Kingstream project, but the project is not committed. When the project is committed, it will be brought within Government accounts.
Mr BARNETT: There is a contingency allowance within Treasury for the Kingstream project, but the project is not committed. When the project is committed, it will be brought within Government accounts.

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