Fortescue Future Industries (FFI) is planning to build the world’s largest electrolyser, renewable industry and equipment factory at Gladstone, Queensland, Kallanish reports.

The company announced on Sunday the multi-stage project will be carried out in partnership with the Queensland government. The so-called Global Green Energy Manufacturing Centre (GEM) will produce electrolysers and associated infrastructure, wind turbines, long-range electric cabling and solar PV cells.

The first out of six stages will see Australia’s first “multi-gigawatt-scale electrolyser factory” with an initial capacity of 2 gigawatts/year. The investment tag for the initial electrolyser project is up to AUD 114 million ($83.96m), with first production expected in early 2023.

FFI adds that subject to customer demand, “the total investment could be up to or in excess of AUD 1 billion as orders firm for electrolysers and other green industry equipment.”

GEM will supply its products to both FFI and third-party customers. Construction of the facility should start in February 2022, subject to final approvals.

The global green energy company, founded by mining billionaire Andrew Forrest, aims to become the world’s leading, integrated, fully renewable energy and green products company.

“As GEM develops according to FFI’s own requirements and other customer needs, manufacturing will come roaring back to regional Australia, creating many thousands of jobs,” says Forrest, who is also the chairman of miner Fortescue.