The establishment of independent advisory body Infrastructure SA is another step closer to fruition, following the introduction of the Infrastructure SA Bill 2018 into South Australian Parliament this week.
South Australian Premier Steven Marshall said the new body will deliver a properly researched, methodically implemented infrastructure plan that will generate more investment, jobs and greater prosperity for the state.
“South Australia spends well over $1 billion a year on the infrastructure needed to get its product to market and that investment needs to be based on economic imperatives,” the Premier said.
Infrastructure SA will undertake four key activities, including:
- Developing a 20-year State Infrastructure Strategy using analysis from public sector agencies and infrastructure providers. The plan will be renewed every 5 years and will set the long-term vision for South Australia’s infrastructure.
- Developing annual Capital Intentions Statements that will prioritise potential major projects for government decisions over a 5-year time period.
- Maintaining oversight of delivery and performance for all projects with a capital value of $50 million and over.
- Providing policy advice, relating to infrastructure planning, delivery and use, including advice on appropriate funding and financing models.
The Infrastructure SA board will be led by an independent chair and three independent, non-executive directors.
It will also include Chief Executives of core agencies – the Department of the Premier and Cabinet, the Department of Treasury and Finance and the current Department of Planning, Transport and Infrastructure – as ex-officio members.
Related stories:
- Past IA chairmen to advise on Infrastructure SA
- Growing the infrastructure pie
- New report shows infrastructure reforms could deliver $66B boost to economy
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