05 Jun '11, 9am

DTN Singapore: Aussie flood bills near US$7.3b: SYDNEY: The damage bill from massive floods which hit northeaste...

SYDNEY: The damage bill from massive floods which hit northeastern Australia this year will likely be AUD$6.8 billion dollars (US$7.3 billion) -- $1 billion more than previously thought -- an official said Sunday. Queensland Treasurer Andrew Fraser revised the cost of the natural disaster which affected an area the size of France and Germany combined and was followed within days by the destructive Cyclone Yasi after getting further estimates. "As well as the tragic human cost, there has also been enormous damage to infrastructure and significant costs incurred in managing the response and recovery process," Fraser said in a statement. "Such a big damage bill underlines the enormity of the task ahead." Australia suffered historic floods in December and January which swamped coal mines, ruined roads and other infrastructure and destroyed crops and farmland in Queensland. The...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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asiaone.com 05 Jun '11, 5am

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