Budget infrastructure grants big boost for construction

The Albanese Government has introduced major reforms to its Infrastructure Investment Program, focusing on sustainability and national development.

The 2024 federal budget allocates $16.5bn over the next decade to support a variety of projects aimed at boosting productivity, enhancing livability and promoting sustainability across Australia.

The government has earmarked $4.6bn for 69 new projects. Notably, $1.9bn goes to road and rail infrastructure in Western Sydney, which is expected to significantly improve the region’s transportation network.

In Queensland, $177m is designated for bridge and intersection upgrades along the Warrego Highway, aimed at improving safety and traffic flow.

Tasmania will see $80m directed towards upgrades to the Lyell Highway between Granton and New Norfolk, enhancing connectivity and road quality.

South Australia will benefit from $120m for interchange upgrades on the Princes Highway at Mount Barker and Verdun, improving traffic management and road safety.

The budget also includes $50m for planning Stage 2B of the Canberra Light Rail, which will extend the city’s public transport network.

In Victoria, $12m is set aside for the Bridgewater Road and Portland Ring Road intersection upgrade, aimed at easing congestion and improving safety.

$540m is allocated to improve the reliability of the Australian Rail Track Corporation’s interstate freight rail network. This includes a $150m upgrade to the Maroona to Portland Line in Victoria, which is expected to enhance freight efficiency and capacity..

In Queensland, $1.15bn is allocated towards the Direct Sunshine Coast Rail Line, which will improve connectivity and reduce travel times.

NSW will receive $50m to ensure the delivery of the Appin Road project.

The ACT is set to benefit from $27.1m for the duplication of William Hovell Drive, aimed at improving traffic flow and safety.

As part of the new investments, $158m is dedicated to the Major Projects Business Case Fund, supporting the planning of nationally significant projects.

Addressing the need for increased housing supply, the budget allocates $1bn for the 2023-24 Housing Support Program – Priority Works Stream. This expands an existing $500m commitment, supporting the development of new housing projects.

In preparation for the 2032 Brisbane Olympic and Paralympic Games, the government is spending $249.7m on the Australian Institute of Sport. This will support the construction of an accessible multi-story accommodation facility, a multi-sports dome for all-weather indoor training, and a new High-Performance Training and Testing Centre.

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