Vic: Bracks thrilled at Holden project

AAP General News (Australia)
12-13-2000
Vic: Bracks thrilled at Holden project

MELBOURNE, Dec 13 AAP - Premier Steve Bracks said Holden's announcement today that
it would establish its $400 million, V6 engine plant in Melbourne was a great day for
Victoria.

Shortly after Holden managing director and chairman Peter Hanenberger made the announcement
at the carmaker's Fishermens Bend plant, a jubilant Premier Steve Bracks visited.

He received a rousing reception from workers whom he congratulated, along with management,
for making Victoria's bid a success.

Investment in the new plant would initially be $400 million but that would grow to
$700 million by the middle of the next decade.

Mr Bracks said the new investment would generate 8,000 jobs in Victoria in the long
term and not just in manufacturing.

South Australia, several European countries and Brazil had also been in the running
for the plant.

Mr Bracks refused to put a dollar value on inducements provided by the government to
lure Holden. Some reports said the government had offered $50 million in benefits to win
the engine plant.

He said Victoria's greatest advantage was its logistical benefits, including a strong
manufacturing base, a deep water port and good road and rail transport.

"It's a great day for Australia and a great day for Holden and a great day for Victoria,"

he said.

He said it had not been a contest between the states.

" ... that's a furphy. This was a contest between Australia and the rest of the world," he said.

"We beat the rest of the world because we were better than the rest of the world and
that's the reality of it."

Holden wants the plant operational by October 2003 with exports to start in early 2004
and would have a capacity of 214,000 units.

As well as building engines for future versions of the Holden Commodore it also would
supply engines for various General Motors cars sold in markets around the world.

AAP bp/jl/cjh

KEYWORD: HOLDEN BRACKS

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