The Queensland government is backing almost AU$2 billion in private investment to fund the state’s local manufacturing, steelmaking, and recycling capability.
The state declared three major steel industry projects as Prescribed Projects to supercharge jobs and economic growth. The three projects are the AU$1.05 billion Alter Steel Mill Project by Equest Steel at Pinkenba, the AU$640 million Swanbank Steel Mill Project by Future Forgeworks, and Sims Metal’s AU$215 million Pinkenba Redevelopment Project.
Together, the proposals are expected to create over 2,000 construction jobs and more than 550 ongoing operational roles across Queensland.
Granting Prescribed Project status enlivens the Coordinator-General’s powers under the State Development and Public Works Organisation Act 1971.
This framework allows for whole-of-government coordination across councils, utility providers, and regulators to streamline the assessment and approval processes while ensuring all statutory requirements are strictly maintained.
Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said backing private investment is central to building a resilient local supply chain and expanding sovereign manufacturing capability.
“These projects are exactly the kind of private investment Queensland needs to grow our economy, strengthen our industrial base and create thousands of Queensland jobs,” Bleijie said.
“We are working to build the industrial capability Queensland needs to support housing, construction and major infrastructure for decades to come.”
By recovering, processing, and reusing recycled metal domestically, Queensland aims to cut its reliance on imported reinforcing steel for future housing and major infrastructure.
Industry leaders welcomed the state’s backing. Alter Steel CEO Paul Zuckerman noted the project’s capacity to add local scrap-based steelmaking to existing construction supply lines.
Future Forgeworks CEO Rohan Richardson said the declaration supports infrastructure delivery for the Swanbank mill, which plans to supply local reinforcing steel from 2028.
Additionally, Sims Chief Project and Business Development Officer John Glyde pointed to the role of the Pinkenba site in expanding local metal recovery.
Once delivered, the three projects are expected to support Queensland’s domestic steel supply chain, improve recycling and processing capability, and help meet future demand from housing, construction, transport and major infrastructure projects.
