Major project pipeline pumped for growth
The Queensland Major Projects Pipeline report, released by Queensland Major Contractors Association, evaluates the current market outlook and medium-term major project construction pipeline across the state.
QMCA chief executive officer Andrew Chapman outlined a positive outlook for the state, with significant growth in rail and road transport and energy.
The report also identified a significant improvement in project funding, with funded projects accounting for $35.5 billion of the total pipeline.
“136 major projects are funded, which is fantastic news for the industry and for Queenslanders who will directly benefit from significant investment in construction and engineering, through supply chain and employment opportunities as well as the through access to economically beneficial assets delivered in the coming years,” Mr Chapman said
“Funded works currently peak in 2022/23 – but could surge higher in 2023/24 – reaching $17 billion in construction work undertaken in 2023/24 alone, if all projects proceed.
“This would be the highest level of infrastructure investment in Queensland since the peak of the resources boom.”
The report outlines several opportunities to enhance the pipeline, increase funding options and create an infrastructure legacy for the state.
“The SEQ Olympics represents a once in a generation opportunity for infrastructure investment, and we predict an uplift in the pipeline from 2024 onwards as the Olympic infrastructure and legacy infrastructure starts to be delivered,” Mr Chapman said.
The transition to zero net emissions is also an opportunity for the state’s construction and infrastructure sector.
“Renewable energy generation and storage, as well as new energy exports such as hydrogen, will have a significant role to play in the sector moving forward,” Mr Chapman said.
“We will need new and upgraded transmission lines, roads, rail infrastructure, ports, pipelines and more to support the state’s aim to be a global leader in renewables and clean energy.
“In addition, investment in transmission networks and energy generation through solar, wind and pumped hydro should all become stronger elements of the project pipeline in the years ahead.”
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