New infrastructure plan to inject a billion into state
The Palaszczuk Government today released Queensland's first State Infrastructure Plan in more than three years and announced the establishment of a new State Infrastructure Fund, with an injection of $500 million, to build the infrastructure needed to grow the economy and support more than 1,000 jobs now for Queenslanders.
The long-term State Infrastructure Plan also outlines significant reforms to the way Queensland plans, prioritises and invests in infrastructure, and follows the establishment of Building Queensland as an independent infrastructure advisor to government and Market Led Proposals to encourage new private sector investment.
Premier Annastacia Palaszczuk said the State Infrastructure Fund included an initial investment of $500 million to deliver major projects across the state that will grow jobs, productivity and the economy, including in regional areas.
The Premier said $300 million of the State Infrastructure Fund would be invested in seven critical road and rail upgrades, to help boost capacity and reliability:
- 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).
"I made a commitment as Opposition leader to ensure that Queensland once again had a state-wide infrastructure plan, and today we deliver it," Ms Palaszczuk said
"Our initial injection of funds will also target projects that have a clear community need and will help address important regional and economic priorities, including jobs for Queenslanders.
"We are now calling on the Turnbull Government to match our commitment to infrastructure in Queensland on projects like the Ipswich Motorway, the Pacific Motorway and the North Queensland Stadium as well as a funding commitment to Cross River Rail."
Other 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; and
- 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