Grants for Business Growth

13/10/2003

62. Grants for Business Growth

Mr Wood to MINISTER for Business Industry and Resource Development


QUESTION

Last year, your department provided this Estimates Committee with a list of Industry Development and Business Growth grants for 2001/02 – among the largest were $100,000 for Plant Investments, $92,000 for Upstream Petroleum and $50,000 for Capricornia Mining and Resources –

(a) what do each of these companies actually do;
(b) what did each of these companies use the grant money for; and

(c) were each these grants acquitted?

ANSWER

Answered on 05/12/2003

The following grants were provided:
Capricornia Mining and Resources P/L is a small barite mining operation around Dorisvale. It received $50 000 to assist with infrastructure to process drilling mud from locally sourced barytes. Was fully acquitted in January 2002.
Upstream Petroleum is an oil and gas service company specialising in floating production facilities and subsea operations. It received $92 000 to assist with infrastructure for servicing offshore oil and gas equipment. Was fully acquitted in November 2001.
Plant Investments P/L is a private family company located in the Douglas Daly region growing peanuts. It received $100 000 to validate research trials in relation to the management and economics of cropping peanuts commercially. This work was done in the Douglas Daly area. Trials were successful and the grant was acquitted.