Cavpower powering up in South Australia
News Release |
Hon Tom KoutsantonisMinister for Manufacturing, Innovation and Trade |
Saturday, 24 December 2011
Minister for Mineral Resources and Energy Tom Koutsantonis today welcomed the announcement by Cavpower to expand its presence in South Australia.
Cavpower is in the process of establishing a new Caterpillar Dealer representative office in South Australia dedicated to supporting BHP Billiton’s proposed expansion of the Olympic Dam mining project.
A wholly-owned South Australian company, Cavpower have been the Caterpillar dealer for South Australia and Broken Hill since 1972 providing equipment, parts and service to the State’s mining sector.
“The latest announcement by Cavpower is concrete evidence of the economic benefits that will flow to this State from the ongoing expansion of our mining industry.” Mr Koutsantonis, who is also Minister for Manufacturing, Innovation and Trade, said.
“We expect to see Cavpower build their workforce by 185 to 750 by December next year. This project is good for jobs and good for South Australia, as local companies gear up to meet the needs of a burgeoning sector.
“Cavpowers expansion will see their operations expand to deal with potentially the largest order of Caterpillar trucks in history.
“Assembling a new South Australian operation dedicated to supporting the Olympic Dam expansion is yet another example of how local companies are able to capitalise on the mining boom that is currently underway in South Australia.
“This follows the US$1.2 billion in pre-commitment funding earmarked by BHP Billiton for the Olympic Dam project, which can flow now that the revised Indenture has been officially ratified.
“With more than 20 new mining projects in the pipeline and mineral exploration nearly back to pre-Global Financial Crisis levels, I am confident that investment in new jobs and commercial opportunities to service the mining sector will continue to step up in 2012.
“BHP Billiton can now begin rolling out the $1.2 billion in pre-commitment funding for the project, including bulk orders of trucks and mining equipment such as those manufactured by Caterpillar.”
- Page URL: http://www.pir.sa.gov.au/minerals/press_and_events/news_releases/cavpower_powering_up_in_south_australia
- Page Last Modified: January 3, 2012