Composite piping is lighter and more corrosion-resistant than the products currently used and would give companies cost and productivity savings, according to CSIRO.

Queensland Deputy Premier Anna Bligh recently announced a $335,000 grant towards the project through the CSIRO at the Queensland Centre for Advanced Technologies. The funding is provided under the Queensland Government’s Research-Industry Partnerships Program.

A successful completion of the project would give the industry a large financial boost, according to CSIRO project leader Dr Phil Teakle.

“For a total cash and in-kind investment of $802,000 over two years, the economic benefit is estimated at approximately $1 million a year in the first few years after market entry, growing to $16 million a year after 15 years,” Teakle said.

“Spin-off benefits to Queensland would be even greater. These benefits can be achieved through Australian sales and export of the products along with productivity benefits, occupational health and safety benefits and expanded production,” according to CSIRO.