Appendix A: Policy Decisions taken since the 2012-13 Budget (Continued)
Capital Measures (Continued)
Industry, Innovation, Science, Research and Tertiary Education
Australian Nuclear Science and Technology Organisation (ANSTO) Nuclear Medicine Proprietary Limited — establishment
| 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | |
|---|---|---|---|---|---|
| Australian Nuclear Science and Technology Organisation | ‑ | ‑ | ‑ | ‑ | ‑ |
The Government will invest up to $168.8 million over four years in ANSTO Nuclear Medicine Proprietary Limited (ANM Pty Ltd) to construct and operate a nuclear medicine manufacturing facility and co‑located nuclear medicine waste treatment plant. ANM Pty Ltd will be established as a subsidiary of ANSTO under the Corporations Act 2001 and will be operated as a public non‑financial corporation.
The facility will produce Molybdenum‑99 (Mo‑99), a radiopharmaceutical used for the treatment and diagnosis of heart diseases and cancers. The nuclear medicine waste treatment plant will utilise Australian‑owned and developed Synroc technology to treat existing nuclear medicine waste and waste arising from the new Mo‑99 manufacturing facility.
The Government will invest $45.0 million in 2012‑13 to complete a detailed engineering design of the facility and to procure long lead‑time items. Following finalisation of detailed costs, up to a further $123.8 million will be provided from 2013‑14 to 2015‑16 to construct the facility.
ANM Pty Ltd will be funded with Government equity. It will generate revenue through the domestic supply of Mo‑99 and by exporting to the global market. Once the Government's investment has been repaid, profits will be shared between the Government and ANM Pty Ltd.
The investment does not have a direct impact on the underlying cash or fiscal balances. Any additional public debt interest cost incurred by the Government would impact on the underlying cash and fiscal balance, and is accounted for separately in the budget estimates.
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