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Infrastructure to receive $50bn boost

Infrastructure to receive $50bn boost

Reporter
— 1 minute read

The government has pledged to invest $50 billion in roads, rail and dams infrastructure between 2013-14 and 2019-20 in tonight's federal budget.

The Coalition is close to finalising agreements under the asset recycling program worth $3.3 billion, which will in turn unlock more than $23 billion in state and infrastructure spending, according to the budget.

The government has reallocated $1.5 billion in funding for Victorian transport infrastructure, including the Monash Freeway, the Murray Basin Freight Rail and the M80 Ring Road.

In Western Australia, the government will invest $490 million in the Forrestfield-Airport Rail Link with another $261 million for the Perth Freight Link.

In addition, $200 million will be invested in the first stage of the Ipswich Motorway in Queensland.

"For the Melbourne to Brisbane Inland Rail, $594 million in additional equity funding is being provided to the Australian Rail Track Corporation to acquire land," said the government.

"A $2 billion National Water Infrastructure Loan Facility will support major water infrastructure projects, such as dams, building on the $510 million National Water Infrastructure Development Fund.

"The Government is also committing a further $115 million to continue preparatory activities at a Western Sydney airport," it said.

 

 

 

Infrastructure to receive $50bn boost
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