$100M TO BE SPENT ON INFRASTRUCTURE PROJECTS IN QLD - Heavy Vehicle Finance Australia

The Minister for Queensland Development, Infrastructure and Planning (Jeff Seeney) has announced that round two of Royalties for the Regions Program has been approved by the state government, with approx $100 million to be spent on infrastructure projects throughout regional areas of the state.

Seeney says that the approval of this funding demonstrates the Neman Government’s commitment to delivering better infrastructure to regional communities that support resource sectors.

Expressions of interest for round three of Royalties for the Regions program have closed, but the Department of Development, Infrastructure and Planning has received interests from 43 regional councils submitting a total of 88 expressions of interest.

Since 2012, Royalties for the Regions program has delivered benefits to regional Queensland including;

  • 23 road projects totalling 215km’s of upgrades
  • Flood mitigation for 98 homes and 37 businesses in Toowoomba
  • Flood mitigation for 500 businesses and residences in Roma
  • Increase in waste recycling from 5% to 45% in the Western Downs
  • Connecting five remote communities with 700km’s of fibre optics
  • 22 new day care centres in Blackall to Tambo
  • Increase in security and seating capacity at Cloncurry Airport

Source: www.constructionindustrynews.com.au

HEAVY VEHICLE FINANCE COMMENTS:

The fact that the Newman Government is committed to providing funding for Infrastructure projects in Queensland is a positive move for the Transport, Mining, Earthmoving and Construction Industries throughout the state. All of these industries will work together in order to facilitate these infrastructure projects.

Given the governments commitment to infrastructure spending coupled with a growing economy, we anticipate a significant increase in Capital Equipment purchases for operators in these industries. In order for these businesses in these industries to grow commensurate with the economy, it is important that they align themselves to a specialist Heavy Machinery Finance Company like ours.

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