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Victoria to accelerate $1 billion plus of infrastructure projects

 

The Victorian Government has announced it will fast-track another list of infrastructure projects to create jobs and improve economic growth.

The $1 billion pipeline of projects were added by Victorian Minister for Planning Richard Wynne as part of the Building Victoria’s Recovery Taskforce fast-track function, which will continue for at least another 12 months.

Ten priority projects have been listed in the new round of priority planning permits, including a $250 million eight-storey commercial hub at Toorak village, a $206 million three-tower development in South Melbourne, a $100 million 36-storey mixed-use development in Southbank, and a $110 million 75-megawatt solar farm in the Latrobe Valley.

Priority projects are assessed for their ability to create jobs, stimulate the economy and contribute to social goals such as affordable housing and emissions reduction.

These projects have been described as “shovel-ready”, with Victoria’s construction industry running under Stage 4 restrictions with strict safety measures in place.

“It’s more important than ever we continue adding to our pipeline of shovel-ready projects to create jobs and stimulate the economy as we get to the other side of this second wave,” Wynne said.

A further 28 projects have recently received $25 million in funding from the State Government’s Growing Suburbs Fund.

This investment is expected to deliver $90.3 million worth of new infrastructure among Victoria’s municipalities, and create 700 jobs that also support local tradespeople, businesses and suppliers.

The projects include the Wyndham City Council’s $26m Tarneit North Masterplan Implementation Project, Cardinia Shire Council’s $1.9m Princess Highway Trail, the Yarra Ranges Shire Council’s $1m Coldstream Biomass to Energy Plant Transfer Station and the Mornington Peninsula Shire Council’s $4.5m Flinders Civic Hall redevelopment.

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