Australia’s latest federal budget will be a good boost to building supplies in Sydney and across the country, as the funding will be targeted to several infrastructure initiatives across the country with the goal of strengthening the construction and quarrying industries in the country.
Released back in the 8th of May, the main focus of the 2018-19 budget is infrastructure expenditure, boosted by an additional $24.5 billion on transport projects, bringing the AU Federal Government’s total spending on infrastructure up to $75 billion over the next decade.
According to Cement Concrete and Aggregates Australia (CCAA) CEO Ken Slattery, the federal investment was dependent on a continuous supply of heavy building supplies in Sydney and across the country. He adds that it was clear to the AU government that strong investment in infrastructure improves the economy and creates more jobs.
Slattery believes that it’s important that all of the government’s levels cooperate in order to support land use policies that’ll keep concrete plants and quarries properly located, complimented by transport policies that allow for the effective transport of these key materials.
The budget was divvied up based on state, with each territory getting an allotted amount.
Victoria is to receive $7.8billion of funding, divided between its rail and road projects as follows; $1.8billion for the North East Link project, $475 million for a new Monash rail line, and the Princes Highway in Gippsland and Geelong line upgrades receiving $132 million and $50 million, respectively. The Victorian Government can also allocated $5 billion for a new rail line leading to the Melbourne airport, should it feel the need.
NSW will get $1.5 billion for projects, with $1 billion of that going to the Pacific Highway bypass project, while $400 million will be going to funding the Sydney freight rail upgrades.
Meanwhile, Western Australia will receive $2.6 billion, with an additional $1.1 billion for the Perth Metronet, to compliment the $1 billion to be used for reducing congestion on the roads, plus $560 million for a new Bunbury ring road.
Southern AU will get $.18 billion, with the majority, $1.4 billion, going to the North-South Road project, while $220 million will go for the electrification of the Gawler line.
Finally, Tasmania will get $461 million for the construction of a new Bridgewater bridge, while the ACT will get $100 million of the upgrading of the Monaro Highway. NT will get $280 million for upgrades to its roads.