Australia’s $58B Infrastructure Project Pipeline
Infrastructure Australia has identified a $58B project pipeline of infrastructure investments for cities…
6 December 2018
Deputy Prime Minister Michael McCormack has announced an extra $500 million funding injection to the National Water Infrastructure Development Fund for the construction of new water infrastructure, including new dams and irrigation projects.
Few details were revealed about which projects would benefit from the cash injection, however McCormack specified the money would be used to work with state governments to identify and co-fund the construction of new water infrastructure projects across regional Australia. The top-up takes the fund to more than $1 billion, after it already sat at $580 million.
McCormack said that water is the life-blood of regional communities and this historic injection of funds will be a game changer for many communities.
“This funding pipeline represents the single biggest commitment to investment for building water infrastructure across the nation. We aren’t afraid to back dams and we want to build more of them. If we want to create jobs and grow regional Australia, then we need to add water,” McCormack said.