The Australian Government today announced that Queensland should expect more than $2 billion in additional infrastructure investment from the new $6 billion Regional Infrastructure Fund.
This investment will reflect the importance of the major resource state of Queensland's contribution to total mining production in Australia.
The Regional Infrastructure Fund will invest in projects with potential partner funding from States, private investors and/or local governments.
For the first time, key regional Queensland mining towns like Mackay, Gladstone, Rockhampton and Townsville will be able to compete for a dedicated stream of funding for infrastructure.
More infrastructure money – just for mining towns and communities.
The recent announcement of an additional $400 million for the fund between 2010-11 and 2013-14 means that investment can start now, to address our urgent infrastructure needs, rather than waiting for revenue proceeds of the Resources Super Profits Tax to flow.
The Government believes it is time to put something back into the mining communities, and those communities which support them, that give so much to Australia and make our national economy strong.
That means more rail, roads, ports, and other crucial infrastructure to support the workforce in critical mining regions and in communities that support mining regions.
Infrastructure Australia will be consulted on projects and projects will be selected based on transparent criteria.
This builds on the record investment the Rudd Government is making in Queensland infrastructure, which is $8.6 billion for transport infrastructure over the Nation Building Program to 2013-14.