$15.2 billion to be spent over next decade.
Tasmania is benefiting from an infrastructure boom with almost $1.6 billion to be spent on infrastructure projects this financial year and $15.2 billion planned for the next decade.
The projects are detailed in the second annual Tasmanian Infrastructure Project Pipeline, which documents government and private projects.
The positive figures add more confidence to recent building and business statistics that show a thriving and overwhelmingly positive economy.
The pipeline details 265 infrastructure projects, with 38 individual initiatives over $50 million.
Private sector projects at a business case stage include the $1.6 billion Robbins Island Wind Farm, a $300 million Kingston Park project and the $120 million Launceston Calvary Hospital co-location.
Private projects outlined as under construction include the Hermal Group’s $190 million timber mill at Hampshire, the $56 million BioMar fish feed facility at Wesley Vale, MONA’s $200 million Dark Lab and Hobart’s unprecedented hotel investment – Vibe ($46m), Hyatt ($40m), Intercontinental ($45m) and Marriot ($50).
Government sector projects in the pipeline include the $6.5 billion Battery of the Nation and Project Marinus, the $60 million Cradle Mountain cableway and the $1.5 billion Macquarie Point development.
General infrastructure spending continues to grow.
More than $300 million is planned to be spent on roads in 2019-20 and once in a generation projects like the Bridgewater Bridge ($576 million) and significant programs, like the Roads of Strategic Importance ($606 million), will be delivered over the decade.
In 2019-20 TasRail will commence the second tranche of its Tasmanian Freight Rail Revitalisation Program ($120 million).
Other key projects scheduled to get under way in 2019-20 include the $206 million upgrade to the Bryn Estyn water treatment plant and the Longford sewerage treatment plant upgrade ($25m).
The 2020-21 financial year will see the commencement of project works on the $85 million combined sewerage and stormwater system in Launceston.
The Hobart Airport will complete $200 million of landside upgrades by 2030 to double the passenger carrying capacity of the airport and is forecasting another $91 million in airside upgrades over the coming five years.
Infrastructure Tasmania CEO Allan Garcia said: “We hope the pipeline continues to provide visibility for industry in terms of what is soon to come on line and provides a valuable tool for resource planning and decision making through its yearly updates.”
Source: Tasmanian Business Reporter
Image Source: Tasmanian Business Reporter
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