The Australian continent is well endowed with most mineral and energy resources and its development has been materially assisted by the successful exploitation of these resources. Additional processing of these basic materials would diversify Australia's industrial base, provide external economies and marketing advantages, create increased employment opportunities, and strengthen the balance of payments. The manufacture of petrochemicals for the domestic market, while not enjoying a comparative advantage as in the export of minerals and energy, is one area where existing and new plants can be directly competitive with overseas suppliers. The availability of petrochemical feedstocks in South Australia led to producer company and State Government initiatives regarding the further processing of these materials. Interstate, similar projects were also investigated for Gladstone, Westernport, Kwinana and Dampier; however, these locations did not enjoy the same advantages of on site availability of natural gas, liquid hydrocarbons and salt in large quantities and at competitive prices. In November 1973 a consortium consisting of ICI Australia Limited, Alcoa of Australia Limited and Mitsubishi Corporation were given exclusive rights against their main competitor, Dow Chemical Company, to develop a petrochemical scheme at Redcliff in South Australia. This decision was made under pressure from the Australian Government who preferred the ICI-led consortium, ostensibly on the grounds of greater Australian equity in the project. Alcoa was to consume the bulk of the caustic soda at its Kwinana and Pinjarra alumina refineries in Western Australia. ICI as Australia's largest manufacturer of chemicals was to market the ethylene derivatives as far as possible in Australia, and the export of surplus product was to be handled by Mitsubishi. In July 1975 the Consortium, having spent a reported $4 million on investigating the project, advised the Australian and South Australian Governments that the proposal was not considered feasible in the then economic climate. Dow Chemical (Australia) Limited, who still expressed interest in the Redcliff site, have since been invited to re-examine the project with the support of both the Australian and South Australian Governments.