Infrastructure Australia today released an updated edition of the 2020 Infrastructure Priority List, presenting 155 infrastructure proposals of national significance.
Infrastructure Australia CEO, Romilly Madew, said the Priority List had been updated in order to cast a spotlight on a number of new proposals and to also showcase the extended pipeline of investment, now worth more than $64 billion.
“Australia is planning its recovery from a rolling series of crises: drought, flood, the bushfires and now COVID-19. As we look forward, the focus is on delivery and as the nation’s infrastructure advisory body, we are continuing to improve our ability to move quickly to identify investments that will improve productivity - this is about expanding the pipeline, keeping the economy growing, helping to create jobs and attract investment.”
“The Priority List is a critical tool in recovery, as it directs investment to the infrastructure projects that will kick-start economic growth and have the greatest returns for all Australians.
“This is the first time we have formally released the Priority List mid-year, by doing so, we want to highlight the most recent priority proposals at a time when our infrastructure investment needs to progress quickly, without jeopardising the quality of those investments,” Ms Madew said.
When compiling the February 2020 Priority List, Infrastructure Australia received a record number of submissions and continued to assess a number of the submissions that had merit but still required further information.
This updated Priority List includes five new Projects, two new High Priority Initiatives and five new Priority Initiatives, all added since February this year.
New Initiatives:
|
Queensland regional road network safety improvements |
High Priority Initiative |
|
Brisbane northern suburbs corridor capacity |
High Priority Initiative |
|
Browns Plains to South East Busway public transport connectivity |
Priority Initiative |
|
Queensland inland freight route capacity and safety |
Priority Initiative |
|
Browns Plains to Beaudesert road capacity and safety |
Priority Initiative |
|
Mooloolah River Interchange capacity and safety |
Priority Initiative |
|
Australian Institute of Sport modernisation (AIS submission) |
Priority Initiative |
New Projects:
|
M12 Motorway |
High Priority Project |
|
More Trains, More Services Stage 2 |
Priority Project |
|
Port Botany Rail Line Duplication & Cabramatta Passing Loop (ARTC submission) |
Priority Project |
|
METRONET: Morley–Ellenbrook Line Project |
Priority Project |
|
METRONET: High Capacity Signalling Project |
Priority Project |
Infrastructure Australia is also currently calling for submissions for the next formal edition of the Infrastructure Priority List, which will be released in February next year.
“We are continuing to assess a record number of projects and we’re encouraging jurisdictions to identify the infrastructure that will best lead a COVID recovery,” Ms Madew said.
In addition to Infrastructure Australia actively supporting harmonisation and streamlining of infrastructure approval processes, Ms Madew reaffirmed the critical role the Priority List plays in business case assessment.
“The Priority List has a strong record of driving national investment and has become a key reference point for all levels of government.”
“As more projects are accelerated, the Priority List will help support decision-making about Australia’s spending priorities by ensuring business cases for large projects include rigorous planning, evidenced based problem definition, options analysis and independent assessment.”
Since the beginning of the dual health and economic crisis, Infrastructure Australia’s advice has been to focus on a staged infrastructure recovery response, first by protecting and maintaining the existing pipeline of projects, then moving to mobilise new projects small and large, with industry reform also to be considered as part of long term recovery.
ENDS
Notes:
‘Projects’ are advanced proposals that have a fully developed business case that has been positively assessed by the independent Infrastructure Australia Board. Projects remain on the Priority List until delivery or constructions begins.
‘Initiatives’ are proposals that Infrastructure Australia has determined have the potential to address a nationally significant problem or opportunity. Infrastructure Australia includes them on the Priority List to indicate that further development and rigorous assessment of these proposals is a national priority.
Infrastructure Australia’s role is to advise on national infrastructure priorities and assesses the economic merits of projects with fully-developed business cases. Funding decisions are made by governments or the private sector.
Proposals are assessed for inclusion on the Priority List using Infrastructure Australia’s detailed Assessment Framework. The Framework acts as a guide for understanding the problem or opportunity that a given project is trying to solve, whether it has strategic value, and whether it represents good value for taxpayers.