A 40-year-old coal-fired power station in Queensland, Australia, will be shut down by 2012, it has been revealed.

Operator CS Energy said in a statement that it would slowly close the Swanbank B power station in Ipswich.

Commissioned in 1971, the 480MW coal-fired power station is nearing the end of its operational life and its four generating units will be placed in storage, reports AAP.

CS Energy chief David Brown said the company has long-term plans to build another gas-fired power station at the site.

Mr Brown said while it would be an “unsettling time” for staff, jobs were guaranteed.

“I assure them there is a job available for every CS Energy employee – there will be no forced redundancies and we will continue to work with staff and unions,” he said.

The closure will not impact on Queensland power supplies as the nearby 385MW Swanbank E power station, commissioned in 2002, will continue operation, reports AAP.