Fortescue claims paying back $66m for failed hydrogen project ‘overreach’
Fortescue Metals Group is contesting the Queensland government's attempt to reclaim nearly $66 million for a failed hydrogen project, labeling it an 'overreach.' The company argues that the funds were spent appropriately and that the government's assumptions about losses are incorrect. A court hearing is set to determine the trial's schedule after the government responds to Fortescue's defense.
- ▪Fortescue claims the Queensland government's bid to recover $66 million is an overreach.
- ▪The funding was for a green hydrogen electrolyser manufacturing plant in Central Queensland.
- ▪Fortescue argues that the funds were spent appropriately and that the government's assumptions about losses are flawed.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.