The Queensland Government will invest an extra $1.5 billion into the State Infrastructure Fund, including $50 million to establish the new Cross River Rail Delivery Authority.
Deputy Premier and Minister for Infrastructure Jackie Trad said the additional funding boosted the Government’s investment into the Fund to a total of $2 billion.
The investment also includes $180 million to bring forward social and economic projects in regional communities.
“Building on our ongoing capital program of $40.8 billion over four years our State Infrastructure Fund, with this initial investment of $2 billion, will continue our momentum to deliver our State Infrastructure Plan and the projects we know Queensland needs now,” Ms Trad said.
“This significant new investment is about setting aside funding for projects to be identified by our independent infrastructure advisor, Building Queensland, as well as ensuring we can bring forward projects that will create jobs, economic growth and investor confidence across our state, especially in our regional communities.
“In particular, I’m pleased to announce more than 25 projects in regional Queensland have been allocated funding through the State Infrastructure Fund’s $180 million Significant Regional Infrastructure Projects Program (SRIPP), which is expected to support more than 280 regional jobs.
“Through the SRIPP, our government is fast-tracking key economic and social infrastructure projects in regional centres right across Queensland, which will increase business confidence, particularly in the downturn of the mining construction boom.
“We know investment in infrastructure is essential for healthy regional economies. Through these projects, our government will ensure local residents are employed wherever possible.”
Ms Trad said the Fund would also continue to support ongoing programs including the $300 million Priority Economic Works and Productivity Program and the $20 million Maturing the Infrastructure Pipeline Program.
Through our Priority Economic Works and Productivity Program, $300 million has also been committed to help deliver targeted, productivity lifting transport infrastructure including:
- 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).
“A further $20 million has been allocated to our Maturing the Infrastructure Pipeline Program to fast track early stages of the infrastructure pipeline through strategic assessments and business cases. The first projects to benefit from this program will be announced soon,” Ms Trad said.
“The remaining $1.45 billion investment into the Fund will be used to progress priority, shovel-ready projects, including those identified by Building Queensland through its Infrastructure Pipeline.
“The Government will consider investment in projects identified through the Pipeline, following the completion of relevant business cases and based on Building Queensland’s independent advice.”
The State Infrastructure Fund is supporting the rollout of the Queensland Government’s landmark State Infrastructure Plan – Queensland’s first in three years – which is transforming the way the state plans, prioritises and funds vital infrastructure projects.