Infrastructure Australia to evaluate projects worth more than $250 million

National Cabinet agreed Infrastructure Australia (IA) will evaluate project proposals that require in excess of $250 million in funding from the federal government.

The previous threshold for projects sat at $100 million but the State and Territory Governments have been advocating to increase the number.

Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said the move will better focus Infrastructure Australia‘s business case evaluation process on the key projects to help rebuild our economy and support jobs into the future.

“This change is something all States and Territories have been advocating for and will improve the efficiency of infrastructure decision-making and delivery,” the Deputy Prime Minister said.

“These changes will take effect from 1 January 2021 onwards and will support our infrastructure-led recovery from the impacts of the COVID-19 pandemic.”

He said the change is about ensuring the national infrastructure advisory body is looking at the most significant projects across the country in the face of an economic recovery.

“Refocusing Infrastructure Australia’s independent advice to government toward projects receiving over $250 million in Australian Government funding is an important step to accelerate delivery of projects nationwide that are critical for jobs, freight efficiency and road safety,” McCormack said.

“At the same time, the Government is committing to maintaining the transparency and quality of IA’s advice on the biggest, most significant proposed investments.”

Infrastructure Australia Chair Julieannne Alroe said IA supports efforts to improve the efficiency of infrastructure decision-making and delivery.

“We will focus our rigorous advice on Australia’s most nationally significant proposals with long-term productivity and community benefits,” Alroe said.

“Infrastructure Australia will continue to take a leading role in streamlining and harmonising assessment processes and work closely with national, state and territory infrastructure advisory bodies to support the timely delivery of infrastructure projects.”