Western Australia benefits from influx of infrastructure spending

17th December 2015, Perth, WA: Mining and petroleum have played a large role in the development of Western Australia, at one point accounting for nearly 90 per cent of the state’s export income.

Western Australia’s mining industry is estimated to have been worth $48.2 billion in the lead up to 2009, with mining employment more than doubling in number within the past two decades.

Household net wealth in Western Australia has increased by more than 70 per cent in real terms since the turn of the century, with the state featuring the highest per capita gross state income within the nation, sitting at $99,552 per capita for the 2013-14 period.

However, with an expected budget deficit for the first time in 15 years and with commodities such as iron ore plunging more than 46 per cent this year alone, the Western Australian government is diversifying its strategy to ensure the state’s economic future.

The Western Australian government will be delivering a $24.1 billion infrastructure program over the next four years, including key commitments in the state’s rail network with $1.2 billion dedicated towards the funding of new rail cars over the next ten years. 

The state is also expected to receive $499 million in additional Commonwealth funding for key road projects, as well as commit $560 million towards a Social Housing Investment Package to deliver 1,000 additional social housing dwellings.

The 7th Annual WA Major Projects Conference - “Rebuilding after the Mining Boom”, is being held in April next year at the Perth Convention and Exhibition Centre as an opportunity for industry experts to discuss these developments.

The conference is expected to attract over 350 delegates, with expert speakers including the Hon. Dr. Terry Redman, WA Minister for Regional Development and Lands, and John Tondut, Principal Project Director of the Perth Stadium development.

One major project that has rapidly gained traction is the Perth Stadium and Sports Precinct. Upon completion it is expected to become the third largest stadium within Australia with a capacity to accommodate for 60,000 spectators.

The estimated $1.4 billion project is currently expected to be four months ahead of schedule and is estimated to be on track for completion well-before the hosting the 2018 AFL season.

The Western Australian government is also committing $428 million in capital funds towards the development of a new Museum within the Perth Cultural Centre, which aims to redefine the role of arts and culture within the city.

Other prominent projects taking place within the infrastructure pipeline include the Forrestfield Airport Link, the Perth Freight Link, the Perth Airport Redevelopment and the Riverside Redevelopment project.

The conference is an opportunity for industry leaders and government officials to share ideas on common challenges and acquire the latest information on major infrastructure projects shaping the development of Western Australia.

The 7th Annual WA Major Projects Conference is being held at the Perth Convention and Exhibition Centre on the 6^th & 7^th of April 2016.

Source: Expotrade Global News