Government support for Latrobe Valley’s brown coal industry diversification welcomed

VECCI welcomes the State and Federal Government’s $50 million investment in the Latrobe Valley’s brown coal industry because of the positive economic benefits it could bring to the region and potentially, across Victoria. 

“Funding that assists business to transition into the production of new products using a plentiful natural resource of Victoria is good policy,” says VECCI Chief Executive Mark Stone.

“Given the magnitude of Victoria’s brown coal reserve, it makes sense to explore new uses for it and we should pursue the range of possibilities, particularly if they could lead to greater prosperity.”
 
The Federal Minister for Industry Ian Macfarlane, Deputy Premier Peter Ryan and Victorian Minister for Energy Russell Northe announced the funding today as part of the 50:50 State-Commonwealth Advanced Lignite Demonstration Program.

“Strong regional economies are vital to a strong Victoria. VECCI has long recognised and supported the significant contribution the Latrobe Valley makes to the Victorian economy and supports efforts to continue to strengthen and transition the local economy,” says Mr Stone.

*

The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the peak body for employers in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

www.vecci.org.au

ends