Will Canadian bank finance Coast airport expansion?
WHAT is the "innovative funding model" that Federal Tourism Minister Richard Colbeck believes will help see the Sunshine Coast Airport expansion built in a couple of years?
It appears the answer lies in Canada's largest bank, the Royal Bank of Canada.
Mr Colbeck was on a brief visit to the Sunshine Coast and met with Sunshine Coast Mayor Mark Jamieson and airport manager Peter Pallot.
He said he believed the new runway would be built and could be finished in a "couple of years".
And he was impressed with the "innovative funding model".
LNP candidate for Fairfax Ted O'Brien said the council had been in talks with the Royal Bank of Canada.
A council spokesman confirmed this was the case.
"The council has engaged the Royal Bank of Canada as its independent advisor in relation to the funding of the expansion project," he said.
The funding strategy had been developed based on three objectives.
These are to achieve funding certainty to enable the new runway to proceed, maximising the value for ratepayers and the council retaining a long-term interest in the airport but securing a partner in the upgraded airport asset.
Mr Colbeck said he was eager to hear how the new runway would "open the market to China".
"I understand new airlines are keen to come here."