The Victorian Government will establish a new $200 million Agriculture Infrastructure and Jobs Fund, which will help support heavy vehicle traffic along freight routes such as the Princess Freeway.
The new $200 million Fund will be established following the passage of the Port of Melbourne lease legislation going through Parliament. The Fund will enable key freight routs, such as the Princess Freeway linking Melbourne to Geelong, to be upgraded to accommodate heavier vehicles and boost productivity.
“The fund will go towards projects such as road improvements to improve access for heavier vehicles such as trade between the Port of Geelong and the Port of Melbourne,” said Minister for Roads, Road Safety and Ports Luke Donnellan.
The broader fund will support investment in agricultural infrastructure and supply chains to help boost productivity, increase exports and reduce costs so Victorian farmers, business and industries can stay competitive.
Funding will be made available for practical projects and projects that benefit the agriculture sector, including transport, irrigation and energy projects, as well as skills development programs and market access campaigns.
Leasing the Port of Melbourne will make the port even better for Victorian farmers, increasing efficiencies and competitiveness, including a significant benefit from the Port’s decision to implement an export discount.
The Fund will be established following the successful passage of the Delivering Victorian Infrastructure (Port of Melbourne Lease Transaction) Bill 2015.