BILLIONAIRE resources boss Clive Palmer plans to spend $1 billion upgrading his Queensland Nickel refinery in north Queensland.
The upgrade would include new plant facilities at the Townsville operation, plus railway infrastructure and work on a treatment facility to deal with nickel waste.
Mr Palmer said when he bought the plant from BHP Billiton in 2009, it was on the verge of closure but staff and management had saved its future.
"This will be a significant investment for the Yabulu Refinery, the Townsville region and the people of North Queensland," Mr Palmer said.
Mr Palmer did not return requests for comment before deadline on Friday.