The Queensland Government at the weekend released the region’s first State Infrastructure Plan in three years and announced the establishment of the new State Infrastructure Fund.
The Fund sees an injection of $500 million to build the infrastructure needed to grow the economy and support jobs for the state.
The long-term State Infrastructure Plan outlines reforms to the way the state plans, prioritises and invests in infrastructure, following the establishment of Building Queensland as an independent advisory body to government and Market-Led Proposals to help encourage private sector investment.
Of the funding included in the $500 million investment, $300 million will be invested in seven critical road and rail upgrades.
- Ipswich Motorway Upgrade, Stage 1 Darra to Rocklea
- Pacific Motorway-Gateway Motorway Merge Upgrade (southbound lanes)
- North Coast Line Capacity Improvement Project
- Dawson Highway (Gladstone – Biloela) timber bridge replacement package
- Rockhampton Road Train Access, Stage 1
- Kawana and Nicklin Way – Sunshine Coast University Hospital intersection upgrades package
- Riverway Drive duplication, Townsville (Gollogly Lane – Allambie Lane)
Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad said in a statement that the State Infrastructure Fund would also allocate up to $20 million to deliver business cases for other priority projects.
“This business case phase is critical to leveraging private sector and federal government investment, through other funding sources like the $5 billion Northern Australian Infrastructure Facility,” Ms. Trad said.
“We have also earmarked $180 million to deliver regionally significant infrastructure projects identified by communities for communities.”
Key reform measures outlined in the State Infrastructure Plan include:
- Establishing an Infrastructure Cabinet Committee to drive infrastructure coordination and development
- Establishing an Infrastructure Portfolio Office to coordinate and integrate state government infrastructure, land-use and economic planning
- Developing five new strategic infrastructure network plans for Transport, Water, Energy, Digital and Social infrastructure
- Enhancing the government’s ability to fund and finance infrastructure through a focus on value capture and improving alternative funding and financing options in Queensland
- Reviewing fragmented local government infrastructure grants programs to optimise prioritisation
- Establishing a joint industry/government Infrastructure Innovation Taskforce, and a Community Infrastructure Reference Group to provide thought leadership through a prioritised program of work
The $500 million State Infrastructure Fund is funded in this year’s budget without the need for new borrowings.
For more information or to view the State Infrastructure Plan visit dilgp.qld.gov.au/SIP
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