Last night’s Federal Budget announced over $29 billion for infrastructure, including an additional $17.9 billion for transport infrastructure, bringing the Infrastructure Investment Program to $120 billion over 10 years.
I am pleased to share with you that Infrastructure Australia has engaged with proponents on 79% of the projects above our $250 million threshold, including 63% that are either on the Infrastructure Priority List - our pipeline of unfunded, nationally significant infrastructure proposals – or have otherwise had a business case assessed through our Assessment Framework.
A number of investment-ready proposals positively evaluated by Infrastructure Australia received new or additional funding, including:
- $300.6 million for Darwin Region Water Supply Stage 1, Northern Territory. This aligns with our evaluation to support Stage 1 while further work is undertaken for Stage 2
- $2,264 million for North South Corridor - Torrens to Darlington, South Australia
- $320 million for Bunbury Outer Ring Road (Stages 2 and 3), Western Australia
- $200 million for Tonkin Highway Stage 3 Extension, Western Australia
- $135 million for METRONET: Thornlie-Cockburn Link, Western Australia
- $90 million for METRONET: Yanchep Rail Extension, Western Australia
- $116 million for METRONET: High Capacity Signalling Project, Western Australia.
We also note eight early-stage proposals received funding to progress further planning, including the development of business cases, which we look forward to reviewing in due course:
- Coomera Connector Future Stages, Queensland
- Bruce Highway (Anzac Avenue to Uhlmann Road) upgrade, Queensland
- Ipswich to Springfield transport capacity, Queensland
- Hawkesbury-Nepean Flood Evacuation Road Resilience, New South Wales
- New England Highway duplication between Muswellbrook and Singleton, New South Wales
- Western Sydney Freight Line and Intermodal Terminal, New South Wales
- Heathcote Road capacity and safety, New South Wales
- Picton Road safety and capacity, New South Wales.
The Budget Papers also provide allocations that align to a range of recommendations from the 2021 Australian Infrastructure Plan. This includes funding for a range of economic and social infrastructure initiatives, including:
- Support for regional Australia’s sustainability, resilience and job creation, including digital connectivity, and public service hubs, shared work spaces
- The next five-year Plan for Northern Australia and related investments
- Efficiency and market reform initiatives in water and energy
- Support for future energy through regional batteries, microgrids, hydrogen and gas infrastructure planning
- Transport initiatives including those part of the National Freight and Supply Chain Strategy and $1 billion to support local road maintenance, road safety and social infrastructure
- Better informed telecommunications consumers through the Measuring Broadband Australia Program
- Support for regional telecommunications through the Regional Connectivity Program and the Mobile Black Spot Program
- $67 million to support the treatment of organic waste
- Improved data and modelling, including the Digital Atlas, Basin river modelling and the National Freight Data Hub
- Support for project delivery through the Significant Projects Investment Delivery Office
Responding to regional priorities in our landmark Regional Strengths and Infrastructure Gaps report, additional funding was provided across the five most prominent infrastructure gaps, including:
- Housing - $2 billion to support state affordable housing services.
- Water security - $7.4 billion for 13 water infrastructure projects that increase water security and build drought resilience.
- Broadband and mobile telecommunications - $811.8 million to support mobile coverage on regional roads and adjacent premises, targeted improvements to digital connectivity, improve natural disaster resilience, support affordability and indigenous connectivity. Support for NBN fixed wireless of $750 million, $480 million from Government.
- Further education and skills - $142.7 million for the Education Infrastructure in Regional Australia Program
- Public transport - Major commitments include $3.7 billion for faster rail projects in New South Wales and Queensland that will better connect cities with our growing regions.
Infrastructure Australia continues to develop our Infrastructure Market Capacity program to regularly report on the capacity of the market to deliver on the record infrastructure pipeline, reflecting the record investment in the sector and the necessary demand for skills and materials.
This month we also published Delivering Outcomes, an industry reform roadmap to address the long-term challenges facing Australia’s infrastructure sector. This roadmap sets out tangible actions over the next 10 years to transform how infrastructure is planned and delivered in Australia to support a more productive, innovative, and financially resilient infrastructure sector.
These reforms will ensure the sector is well placed to withstand disruptions, such as the challenges facing supply chains during COVID-19, but also ensure infrastructure better addresses the needs of the community.
We look forward to further engagement and collaboration with government and industry stakeholders to progress nationally significant infrastructure investments and reforms across all of Australia’s geographies - our fast-growing cities; smaller cities and regional centres; small towns, rural communities and remote areas; and northern Australia and developing regions.
If we are able to provide any further insight or assistance, please reach out to the team at email@example.com.
Chief Executive Officer