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Fortescue Settles Queensland Funding Dispute Over Gladstone Electrolyser

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Sig3.35Sen-1.10Env0.00Soc+0.60Gov-1.75

Fortescue and the Queensland Government reached a confidential settlement over the A$66m state funding for a Gladstone electrolyser manufacturing facility. Queensland provided land and enabling infrastructure, while the federal Modern Manufacturing Initiative contributed A$44m. After Queensland sought reimbursement and issued compliance notices, the state will retain value through transfers of land, an electrical substation and common-user infrastructure under the grant terms.

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