Regional development group MITEZ has welcomed news of a $1.4 billion State Budget commitment to progress CopperString, but says industry remains hungry for details on the project roll-out.

Queensland Treasurer and Energy Minister David Janetzki is holding a news conference in Townsville today where he is expected to make the funding announcement.

CopperString is a 1100km, high-voltage transmission line proposed to connect the North West Minerals Province to the National Electricity Market.

The concept has been advanced for years by private Townsville-based company CuString, but the State Government took the reins in 2023 and increased the project scope.

The estimate for the full cost of the project has subsequently blown out to almost $14 billion.

MITEZ chief executive officer Maria James said while the $1.4 billion Budget funding commitment was reassuring it was ‘to be expected’ given the need for backing to move forward on the government’s recently announced plans to build the transmission infrastructure from Hughenden back towards Townsville.

But stakeholders were still seeking information on what was planned between Hughenden and Mount Isa, and how the Queensland Investment Corporation (QIC) was progressing with its work on the project, she said.

Related: Critical minerals industry in a CopperString rut

Flinders Shire Mayor Kate Peddle also welcomed the announcement of an additional $1.4 billion funding with cautious optimism, calling for urgent action, clear communication, and real outcomes for the region.

The community was holding off its celebrations until they saw tangible progress, she said.

“The Crisafulli Government has an unbreakable commitment to CopperString, and we acknowledge that and commend them, but what we need is to go faster, as we’ve been here before,” Cr Peddle said.

“We have a bottle of champagne on hold, and it will remain sealed until we see a tower go up.”

In April, Mr Janetski announced he was enlisting the QIC to help deliver CopperString after a series of cost blowouts.

He said at the time that prioritising the project’s Eastern Link would allow focus to be placed on connecting renewable generation in the proposed Flinders Renewable Energy Zone.