Prime Minister Scott Morrison is expected to today announce $1.5 billion to immediately start work on priority projects identified by the states and territories.
As well as the Olympic Dam expansion, these “shovel-ready” projects include the inland rail project from Melbourne to Brisbane; the Marinus undersea electricity link between Tasmania and Victoria; emergency town water projects in NSW; and road, rail and iron ore projects in Western Australia.
The expansion has been granted Major Development status by the state government and is expected to support up to 1800 jobs during construction and an additional 600 ongoing operational roles thereafter.
The federal funding is designed to speed up approval processes to fast-track the projects.
The state government released the assessment guidelines for the Olympic Dam expansion last month.
In an address to CEDA’s State of the Nation conference in Canberra today, Morrison will again push his JobMaker scheme, urging a modernisation of how Australia approaches the economy.
Morrison says joint assessment teams will work on accelerating the projects worth more than $72 billion in public and private investment, and supporting more than 66,000 direct and indirect jobs.
Further announcements on specific projects will be made soon.
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