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ASF rethinks $6.5 billion Queensland project

ASX-listed company ASF Consortium has started redrawing its $6.5 billion project amid confusion over the parameters to be set by the new Queensland government.

According to The Australian newspaper, ASF’s local project director Tim Poole said a revision of plans for a Gold Coast cruise ship terminal, casino and residential development could be adjusted based on community feedback and the Labor government’s commitments not to develop certain areas. But, the company required certainty before overhauling the entire project.

“We’ve looked at some of the elements on the map already to find out if some changes could be made without environmental impact,” Poole was quoted as saying.

The government has yet to indicate how it intends to proceed with the bid, leaving projects undecided.

During the summer election campaign, Annastacia Palaszczuk said a Labor government did not want to see development of the northern Gold Coast’s Wavebreak Island, but this has yet to be finalised with ASF.

“That’s what we’re keen to discuss with the government,” Poole was quoted by The Australian as saying.

“We want clarity around that statement.”


The Aquis casino resort planned for north of Cairns, led by Hong Kong billionaire Tony Fung, is also reviewing its plans for the $8.15 billion development.

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