IFM Investors CEO Brett Himbury said today that the Australian investment in Freeport LNG's significant new natural gas and LNG loading facility on Quintana Island near Freeport Island near Freeport, Texas was a great example of trans pacific co-operation, giving Australian superannuation funds access to high quality investments to solve America's energy infrastructure needs.
The IFM Investors commitment in excess of US$1 billion to the US$10 billion Freeport liquefaction project, a LNG export facility, will help facilitate the employment of over 3,500 workers over a five year construction period, create thousands of jobs in the area of natural gas production once operational, and will provide an estimated US$6 billion of annual economic benefit to the U.S. economy.
Mr. Himbury, who has recently returned from traveling with the Prime Minister Abbott and Trade and Investment Minister Andrew Robb on a business delegation to the U.S. and Canada, said the investment would deliver significant returns to millions of Australian superannuation and U.S.
"I am immensely proud of the fact that IFM Investors, as Australian-owned infrastructure investor that managed the retirement savings of over eight million Australian workers, is playing a lead role in the provision of private capital to fund the critical insfrastructure needs of the U.S. economy.
"This capital also represents some of the largest pension funds globally, including five of the top 10 U.S. public pension funds and eight million working Americans."
Trade and Investment Minister Andrew Robb said the investment was a good example of Australian superannuation money being deployed around the world to build critical infrastructure and invest in the real economy.
"The partnership between IFM Investors and Freeport LNG is a prime example of the mutually beneficial business relationships that have developed between U.S. and Australian companies, which will in this instance result in substantial investment and international trade outcomes. Our business delegations are all about fostering business relationships that lead to this type of major investment, investments that go both ways, creating more jobs in both countries."
IFM Investors is the largest investor in infrastructure in Australia and one of the biggest infrastructure investors in the world.