Magnis Resources has selected Woodstock as the site for its proposed $2 billion Townsville Lithium-ion Battery Gigafactory and is moving on to its feasibility study.

Townsville City Council has approved offering about 400ha of land in Woodstock, in exchange for equity in the project.

Woodstock is located on the Flinders Highway, about 40km from the Port of Townsville, and the parcel of land selected has access to rail, power and fibre-optic cable.

Mayor Jenny Hill describes the Townsville Lithium-ion Battery Gigafactory as potentially ‘the biggest stimulus ever for the

Townsville economy’,  with the prospect of 7000 jobs created.

“We are committed to making sure that this project is our No. 1 priority, ” she said.

Magnis Resources chairman Frank Poullas said today’s announcement showed how serious all stakeholders were in getting the battery plant up and running.

The manufacturing facility would be able to produce either 250,000 car batteries per annum or one million home battery units or support 300 microgrids to power small towns.

The consortium behind the proposal is led by Boston Energy and Innovation consists of Magnis, New York-based

Eastman Kodak Group, Charge CCCV (C4V) and C&D Assembly.