The Queensland Government’s State Infrastructure Plan 2019 Update outlines the second highest pipeline of public and private infrastructure projects in the country.
State Infrastructure Minister Cameron Dick said the plan highlights significant private investment throughout Queensland and the lowest infrastructure underspend in a decade.
“The next four years will see a $4.95 billion infrastructure investment across Queensland, including $1.29 billion over the next 12 months, which will support up to 40,500 local jobs,” Mr. Dick said.
“More than 160 infrastructure proposals are in the planning phase of the 2019 pipeline, including 67 new projects, and 40 proposals have moved from planning into delivery since 2018 and will be delivered in the next four years.”
According to the offical update report, state and local government spending on infrastructure is rising and emerging as a key driver of Australia’s economic growth.
“Transport projects currently account for about one third of all Queensland activity and are largely led by the state government, with the Cross River Rail project now under construction,” the report reads.
“There are also approximately $29 billion worth of public infrastructure works in the planning phase.”
Mr. Dick said the state government have focused keenly on reducing capital program under-expenditure since 2015.
“Our careful management will see us achieving a near-zero per cent underspend for 2018-19, the best performance in 10 years,” Mr. Dick said.
“Since 2015, around 207,000 new jobs have been created for Queenslanders, and this updated State Infrastructure Plan highlights there are plenty more on the way.”
According to Mr. Dick, 60 per cent of this year’s infrastructure budget is being invested outside Greater Brisbane, where it will support around 25,500 jobs.
“Our strong infrastructure program underpins and unlocks private sector investment, and our state’s $147 billion public and private infrastructure pipeline is the second largest in Australia, as reported in the March 2019 Deloitte Access Economics Investment Monitor,” Mr. Dick said.
“The state government is creating the right conditions to assist and accelerate more private investment and quickly guide the right projects smoothly from concept to robust business case and beyond.”
Infrastructure Association of Queensland CEO Priscilla Radice said industry welcomed the annual update, as it provided certainty around the year’s $12.9 billion infrastructure investment.
“The State Infrastructure Plan is a crucial investment blueprint for the state – it gives both industry and investors confidence in this market and assures the community of the government’s commitment to deliver on jobs,” Ms. Radice said.
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