The smelter closed in 2014 and Hydro has been working on remediating the 2000-hectare site, and preparing it for sale, since then.

Neither side would discuss the value of the sale but Flow Systems’ executive manager of development, Jamin Tappouras, said Hydro would continue to be responsible for the remediation of the site, with Flow responsible for its longer term management.

Master-plans for the site have been in the public domain for a few years now and Mr Tappouras said Flow would be continuing with the same general model of a mixture of residential and commercial use.

“We are not looking at anything radically different but it will be a better outcome for the community,” Mr Tappouras said.

He said Flow was looking to “increase the residential component”, with a target of about 2500 to 3000 homes.

Flow was a water utility, not a developer, and Mr Tappouras said it would be bringing in development partners on the project.

He said Flow had already worked on the Central Park development at Chippendale in inner Sydney, as well as providing the water infrastructure at the Huntlee development at Branxton, the Watagan Park project at Cooranbong, and a development at Wyee for the Stevens Group.

 Hydro managing director Richard Brown said Flow Systems was an ideal partner for Hydro at Kurri.

“Environmental stewardship is a hallmark of Hydro’s global business,” Mr Brown said.

“We selected Flow because we felt their commitment to sustainable economic and environmental values was directly aligned with ours.”

Mr Brown said planning for the 2000-hectare site included 250 hectares for housing and 250 hectares for commercial development, with 1200 hectares to be conserved.

This is expected to generate employment opportunities during the construction phase as well as long-term jobs in retail, commercial, industrial and tourism sectors,” Mr Brown said.