Infrastructure to receive $50bn boost

Infrastructure to receive $50bn boost

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.

 

 

Related Articles

 

Infrastructure to receive $50bn boost
investordaily image
ID logo
promoted stories

Appointments

David Cullen

AMP appoints new group general counsel

Reporter

Matt Brown

Australian Unity hires former ANZ Wealth exec

Reporter

Deanne Stewart

First State Super announces new CEO

Reporter

Analysis

investordaily image

Corporate governance and advocacy in China

Therese Niklasson

Dug Higgins

The shifting LIC landscape

Dug Higgins

investordaily image

The perils of chasing niche infrastructure

Frithjof van Zyp