The Infrastructure SA Bill will be introduced into State Parliament in late June 2018, to ensure the long-term prosperity of South Australia.
South Australian Premier, Steven Marshall, said Infrastructure SA will deliver a properly researched, methodically implemented infrastructure plan that will generate more investment, more jobs and greater prosperity for South Australia.
“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,” Mr Marshall said.
Infrastructure SA will undertake four key activities:
- Developing a 20-year State Infrastructure Strategy using consistent and robust analysis from public sector agencies and infrastructure providers. This plan will be renewed every five 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 five-year time horizon
- 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 combine the expertise of the public and private sectors in developing major infrastructure plans for the future.
The Board will be led by an eminent independent chair and three independent, non-executive directors with industry experience and relevant qualifications.
The Board 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.