Australian Government Pours Funding into Victoria-Tasmania Undersea Power Cable Project

Australian Government Pours Funding into Victoria-Tasmania Undersea Power Cable Project
An operator works during the mooring of an undersea fiber optic cable near Sopelana, Spain, on June 13, 2017. Ander Gillenea/AFP via Getty Images
Alfred Bui
Updated:
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The federal government has stepped in to rescue a multi-billion dollar renewable project connecting mainland Australia with the island state of Tasmania agreeing to fund nearly half its initial cost.

The Labor government struck the agreement while raising its stake in the joint venture to 49 percent.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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