Chalco speculation may provide early economic boost

A north Queensland economist says speculation an alumina refinery will be built in Abbot Point near Bowen could boost consumer confidence in the region this financial year.

Chinese aluminium company Chalco has committed to doing extensive environmental impact studies to determine if the region is suitable for the project.

Townsville-based economist Kerry Ramm says even though construction would not start for at least another two years, north Queensland could see minor economic benefits sooner rather than later.

"What we expect though is you'll start to see the impact of that confidence around that announcement flowing through into the property sector, particularly in places like Bowen where the speculators will start to move in, but in terms of the real benefits of Chalco I expect them to start flowing in around about two years' time when the project gets off the ground," he said

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