According to the government of Australia, a huge investment of $100 billion has been spent on infrastructure. This expenditure was between 2009 to 2019, and it helped in developing transport infrastructure. With a population of 25 million, the National Infrastructure Investment Program plans to expand road and rail networks to inner cities. Will Australian infrastructure companies draw inspiration from the infrastructural models of other developed countries?
The Infrastructure Investment Program:
It will be realistic for the Australia government to improve road, and air travel safety across every region with the National Infrastructure Investment Program. However, it requires financial funding to implement these programs. Also, there was a meeting in 2018 between representatives of the London Transport Commission and the Australian Government.
The Australian British Infrastructure Catalyst meeting was a strategy of exchanging ideas on world-class infrastructure projects. Investment in transport infrastructure is essential because there’s a surge in the population of Sydney and Melbourne. According to Andy Green (Commissioner for the National Infrastructure Commission), both the UK and Australia share similar views on infrastructure projects. Without a roadmap like this infrastructure plan, it will be hard to achieve urban regeneration.
Where Does Australia stand in the Index of infrastructural Development?
Australia has the highest infrastructure construction percentage of GDP (Gross Domestic Product). According to Fitch Ratings, Aussies are 1.45% higher than Germany’s 1.3%, and the UK’s 1.2% in 2019. While America has 0.87%, and Canada only boasts of 1.12%. These positive demographics show that Australia places much priority on the performance of critical infrastructure. However, it’s not the time for this developed country to rest on her oars because of the 1.7% annual growth rate in the population. Interestingly, Acciona, a leading infrastructure construction company in Australia, has also invested $1 billion into infrastructure development.
The Melbourne Airport Rail Link Project
Australia’s infrastructure projects are among the worlds top-rated. The Melbourne Airport Rail Link project is funded by Australia’s National Rail Program. It’s a critical project that will start in 2022 valued at $10.03 billion. However, the timeline for this rail link project started with a preliminary evaluation in August 2018. After completion, we hope to see the decongestion of the Tullamarine Freeway. Additionally, this infrastructure will be linked to the Melbourne Airport.
The Roads of Strategic Importance (ROSI) Project
Apart from infrastructural development, the Roads of Strategic Importance (ROSI) plan will create opportunities. This initiative has high employment rates and business potentials. It has a value of $5.5 billion. With this project, the Australian government can connect local mining centres, agricultural companies, and international market hubs. The ROSI Corridors will pass through; NSW, Queensland, Southern, Western, and Northern Australia. There will be links to highways, ports, and airports in these regions. Generally, the ROSI project will benefits communities because it will upgrade existing culverts, seal road, control flood, and rehabilitate pavements.
The information technology infrastructure is the engine room for modernization. A robust, National Broadband Network for Australia was discussed at the Infrastructure Catalyst conference last year. The case of Australia is peculiar because of her vast geography. However, the government’s budget for this broadband connectivity project is a whopping sum of $52 billion. Also, investors have been encouraged to key into Australia’s 5G mobile network plans and make a profit.
How to Bridge the Gap
Maintaining up to date infrastructure is important in allowing a first world country to stay first world, however, it is as forgotten as making sure your drains stay clean.
Naturally, a growing population requires an expansion of infrastructure. The surefire way for Australia to bridge infrastructural deficit is to build world-class projects. To meet this urgent demand, we hope that the Australian government will prioritize these projects and keep to their timelines. Migration is another factor that’s causing a surge in population. It’s only a well-planned infrastructural investment program that can accommodate an estimated population of 42 million people in 2066.