ACT Deputy Chief Minister and Treasurer Andrew Barr last week released the2013-14 Update of the ACT Government Infrastructure Plan, which provides an overview of key infrastructure projects that the ACT Government has funded through the 2013-14 Budget or is considering funding over the next decade or so.
Mr Barr said that as well as informing the community, the Plan is intended to advise the construction industry and other relevant business sectors of a continuing pipeline of projects to help deliver the government's longer-term objectives for the ACT, which include economic growth and urban renewal.
According to the government, the Plan includes transformational projects, such as Capital Metro and the City to the Lake project including new convention facilities and stadium, in response to the increasing demand for high quality infrastructure from both a growing population and an increasingly diversified private sector.
Mr Barr said the Territory's rising population – which is expected to increase from nearly 375,000 to more than 550,000 by 2059 – requires the right investment in the Territory's future infrastructure to meet the needs that such a population will demand.
He added that the infrastructure investment will be a significant boost to the construction industry, with the associated generation of new jobs expected to enhance the economy. It is estimated that during the June 2013 quarter, there was $10.3 billion worth of private and public sector projects either underway or in the planning phase in Canberra and the region.
The ACT Government's 2013-14 Budget infrastructure investment program provides for $272.2 million over four years and includes new capital works, feasibility studies, forward design projects, plant and equipment, and information and communication technology investment.
The Infrastructure Plan 2013-14 Update is available from the ACT Government's Economic Development Directorate website at <http://www.economicdevelopment.act.gov.au/>.