$750 Million Port Of Airlie In Receivership
The $750 million Port of Airlie development project has been placed in receivership.
Project developer Meridien Group has attributed the dwindling growth of the Whitsunday region to the Global Financial Crisis, the Queensland cyclones / floods and the strong Australian dollar, the result of which being poor tourist numbers.
The project has been ten years in the making, and Meridien has committed more than $200 million to it. The company is working with the receivers in an effort to continue with the development, and said the receivership will not affect its other projects and holdings.
Visit www.portofairlie.com.au for more info.