WHAT IS QUEENSLAND’S FIRST STATE INFRASTRUCTURE FUND?

Queensland Premier, Annastacia Palaszczuk, has announced Queensland’s first state infrastructure fund, along with a massive injection of over $500 million. Seven major road and rail projects have been flagged for the project, which is the first of its kind in three years.

The State Infrastructure Fund is more than an injection of funds. It also outlines how Queensland will plan, prioritise and invest in infrastructure into the future.

what is queensland's first state infrastructure fund?

WHAT WILL THE FUND INVEST IN?

To begin with, $300 million will be invested in seven major road and rail projects:

1. Stage 1 Darra to Rocklea on the Ipswich Motorway (upgrade)
2. Pacific Motorway-Gateway Motorway – southbound lanes merge (upgrade)
3. Capacity improvement project – North coast line
4. Dawson Highway (Gladstone–Biloela) timber bridge replacement (package)
5. Stage 1 Rockhampton road train access
6. Kawana and Nicklin Way–Sunshine Coast University Hospital intersection (upgrades package)
7. Riverway Drive duplication, Townsville (Gollogly Lane–Allambie Lane)

The projects won’t only strengthen local infrastructure, it will also boost jobs in the local area, said Deputy Premier and Infrastructure Minister Jackie Trad.

“These projects will actually mean greater economic growth around key areas of our economy, like export and trade.”

While all of the projects have been tabled, there will be additional funding requirements from the Federal Government in order to ensure they are fulfilled.

“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,” Palaszczuk said.

The Queensland state government is also going to dedicate resources to establishing an Infrastructure Cabinet Committee and a Portfolio Office that will aid in overseeing the project.

The heavy equipment and construction industries are sure to see a major part of the investment. Should the commonwealth government grant the state government’s wish and fund these projects, the $500 million of local infrastructure funding should be invested in the heavy equipment and construction industry.

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