The measure in Table 1.2 is a capital measure (see details below and under “Measures affecting outcome 1” on page 208). This measure does not have a net resource implication for CSIRO.
CSIRO has not been appropriated any administered capital or departmental equity injections for 2001-02. CSIRO has been granted a loan amounting to $50.0m from the Commonwealth Government as support for Commercialisation of Production Technology in Light Metals. In joint partnership with the Australian Magnesium Corporation, CSIRO has developed new technology for refining the use of Magnesium. This loan allows CSIRO to continue its involvement in this process and will ensure that the Government retains an interest in the intellectual property rights and future financial benefits resulting from the commercialisation of this technology. This loan is being drawn down over two years, $32.8m in 2001-02 and $17.2m in 2002-03, and is being repaid as per agreement with the Department of Finance and Administration.
Following an independent review of CSIRO’s property holdings, six properties will be sold and leased back over the next two years. CSIRO will make equity repayments to the Budget of the proceeds from the sale of these properties, as shown in Table 1.3.
