Legislative Council Thursday 12 July, 2018

Ms  FORREST  question to LEADER of the GOVERNMENT in the LEGISLATIVE COUNCIL, Mrs HISCUTT

With regard to TT-Line -

(1) When is the deposit of $140 million to secure the purchase of new vessels to be paid?

(2) What is the purpose of borrowings noted in answers to questions asked at budget Estimates hearings of $25 million in 2020?

ANSWER

(1) The deposit for the two new builds will be paid when Flensburger Schiffbau Gesellschaft has in place the required refund guarantees. TT-Line is not yet in a position to provide a time frame on when this will occur.

(2) All borrowings assumed for TT-Line Pty Ltd over the forward Estimates are to support funding of the new vessels. The forecast borrowings of $25 million in 2019 20 reflect the Government's assumptions for TT-Line's borrowing requirements in that year.