THE federal government is allocating billions of dollars in cheap loans for new roads, water, electricity, airports and rail projects in northern Australia.
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A $5billion concessional loan facility will be established to help boost infrastructure building in Queensland and the Northern Territory.
Another $3.7million will go towards identifying potential new projects through an infrastructure projects pipeline.
The $5billion Northern Australia Infrastructure Facility will provide an initial $327million in 2016-17.
But Queensland Treasurer Curtis Pitt said the Abbott Government’s Northern Infrastructure Fund isn’t a ‘‘fund’’ at all. “...
It’s a loan scheme and Mr Hockey isn’t giving us any detail on how North Queensland can access those concessional loans or even what the conditions are,” he said.
The initiatives, announced in Tuesday’s budget, are designed to boost private sector investment in the north and comes as part of the forthcoming northern Australia white paper.
They are in addition to the $101million allocated to improve cattle supply chains announced last week
On a smaller scale, communities in every electorate are set to benefit from a $45million Stronger Communities fund for projects of around $150,000 each.
Federal spending on Queensland infrastructure in 2015-16, most of which had previously been announced, will include:
●$500million for the Bruce Highway between Brisbane and Cairns.
●$48millionmillion for a Cape York region package of road and community infrastructure projects.
●$8million for the D’Aguilar Highway between Caboolture and Kilcoy.
●$10million for the Dalrymple Road bridge over the Bohle River.
●$50million for the Gateway Motorway North widening and Deagon Deviation duplication between Nudgee and Bracken Ridge.
●$6.5million for the Kin Kora Roundabout conversion into a four-way signalled intersection
●$102million for the Moreton Bay Rail Link between Petrie and Kippa-Ring.
●$10million for the Pacific Motorway – Coomera Interchange (Exit 54).
●$30million for the Peak Downs Highway upgrade at Eton Ridge.
●$316.5million for the Toowoomba Second Range Crossing.
●$101.5million for the Warrego Highway between Toowoomba and Miles $101.5.
●$5million for Outback Way in central west Queensland.
●$12million for the National Highway upgrade program in regional Queensland.
●$12.1million to upgrade bridges across the state.
●$12.2million on black spot projects across the state.
●$71.2million through the Roads to Recovery program for local roads.
In addition, the government announced up to $20million in assistance to drought-affected communities for infrastructure and job-creating projects and $30.7million over four years to improve regional airstrips.