Manufacturing News

$200 million Chinese investment into Victorian manufacturing

A Victorian manufacturer has won a $200 million Chinese cable contract that will create 200 manufacturing jobs.

Anhui Joy Sense Cable Company, which manufactures aluminium alloy cables for use in power distribution networks, plans to set up a new base in Victoria.

Negotiation for this agreement with Premier Ted Baillieu and representatives of his super trade mission took place in China.

The location and timing of the operation's opening are yet to be finalised.

Victoria’s unemployment rate rose to 5.6 per cent last month, with more than 12,000 regional Victorians losing their jobs in August.

The deal was welcomed by manufacturing minister Richard Dalla-Riva.

"This is a significant investment into Victorian manufacturing with a major Chinese infrastructure project supplier establishing an operation here which will employ up to 200 people," Dalla-Riva said.

He stated that "Victoria is the home of manufacturing in Australia for many reasons, including geographical conditions that lead to ease of transport across road, rail and port logistics, and a curfew-free airport – all of these conditions, plus Victoria's strong fiscal position, make us the ideal state for international companies to choose to invest in."

Anhui Joy Sense Cable will go through commercial negotiations to determine the best home for its Victorian arm, which will complement three factories worth more than $4 billion based in China, reports the Herald Sun.

According to Ted Baillieu the mission showed the range of possibilities in Victoria.

Baillieu stated that could be supported by world-class education and infrastructure to some of the world's biggest companies.

"We have one of the strongest and most resilient economies in the world," Baillieu added.

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