A landmark deal with Singapore will see $2 billion invested in Australian defence infrastructure. The agreement involves investments in Townsville and Rockhampton army facilities.
Bronte Hearn reports.
The open-trade agreement, announced today by the Prime Minister, will benefit both nation’s defence forces, as well as business relations.
Malcolm Turnbull, Prime Minister: “We’ve committed to substantial new initiatives on investment in northern Australia, including a partnership on agribusiness development.”
The investment concerns the existing Townsville Army Barracks and the Shoalwater Bay Training Area, near Rockhampton.
The barracks will be used by Singaporean troops.
The new infrastructure to be funded by Singapore, will include accommodation, roads and facilities.
Malcolm Turnbull, Prime Minister: “This multi-billion dollar investment will be centered around Townsville and Shoalwater Bay, helping local workers and businesses make that transition from the mining construction boom.”
Singapore is already Australia’s fifth largest trading partner.
Six thousand Singaporean troops already train in Australia.
Over the next 25 years, this will skyrocket to 14,000.
Bronte Hearn, QUT News.