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Future Investments will Shine Hope into the Oakajee Project and Geraldton Economy

The Oakajee Port Project, a multi-billion dollar prospect, could provide a huge boost to the economy once it claims the proper funding.

Geraldton, WA, June 27, 2013 - A short distance away from the city of Geraldton, the proposed Oakajee Project has seen turbulent times. Officially announced in the middle of 2008, it had a lot of support from state and federal governments.

However, years after its inception, construction on the port and attached rail system had not yet begun despite an initially proposed start date of 2011. As of February of this year, no construction had taken place.

To make matters worse, Mitsubishi, a major contributor to the funding of the project, has cut its investments. The Japanese company was supposed to provide a large amount of the project’s funding; however, it has stalled due to a relatively poor economic environment and the aforementioned lack of progress.

The future of the project is not as grim as it may appear. WA Premier Colin Barnett, who supports the Oakajee Port Project, travelled to China recently to discuss the possibility of Chinese companies and government investing in the project. More international support would boost the operation and would hopefully lead to its completion in the near future.

That future is far from certain though, as China’s investment interests in Australia have peaked and are falling slightly. However, talks have been going well and there is potential for Chinese investment in the project.

The project itself is a good idea due to the mining boom that has taken place in Western Australia. The port would provide a way to not only transport the iron ore and other metals collected, but allow them to be easily traded overseas, thus increasing the potential of the mining industry.

Barnett feels that the project will be completed and that it’s only a matter of time. His unbridled support for this project--despite media protests--indicates resolve, resilience and determination.

Lauren O’Connor, marketing manager for 4Land Property Group, a company that specialises in the real estate of the Geraldton and surrounding areas, feels, too, that the Oakajee project is a great thing for the economy of Western Australia.

“With the completion of this Project,” she claims, “the economy of the Geraldton and nearby areas will receive a major boost.”

“Geraldton is only a few kilometres away from the port site. The kind of revenue brought in by all the commerce taking place there will affect the city in a very positive way. Specifically, it will drive the value of our real estate higher, which would be good news for residents. However, those looking to move to Geraldton might want to consider getting in before this boost.”

“Although the Port Project is not a sure thing, I’m fairly confident it is inevitable and when it is completed, it will mean great things for the Geraldton economy.”

Although this would be good for Geraldton, prices on property would increase. Thus O’Connor encourages potential buyers to make the move now while the prices are still relatively low.

“It’s not all about the prices; the Port will be a positive factor in Geraldton’s economic and cultural growth. It will be an exciting and eventful time to live in Geraldton.”

The 4Land Property Group is a definite proponent of the Oakajee Port Project and focuses on land and real estate in Geraldton and nearby areas. For more information and for any questions you have, please visit their website at http://www.4land.com.au/ or call (08) 9301 4445.