Victoria, Australia, outlines AU$55bn of infrastructure investment

Infrastructure Victoria updates Victoria’s 30-year infrastructure strategy every three to five years. Image: Adobe Stock

Infrastructure Victoria has named 50 priorities for the state across housing, energy, transport, health, social infrastructure and the environment as part of its draft 30-year infrastructure strategy. The strategy outlines 43 draft recommendations.

“Investing in new infrastructure is one way of building a more productive economy, and more will be needed as Victoria grows,” said Infrastructure Victoria Chief Executive, Jonathan Spear.

“But there is also lots the government can do to make better use of what it already has. The government can prioritise getting better use from its existing assets, improve how it maintains infrastructure so it performs better and lasts longer, and publish long term plans so that other governments, industry and not-for-profit providers can make better informed choices on where and when to invest,” added Spear.

The strategy highlighted how digital technologies can also produce big savings, with one example being how using building information modelling (BIM) to build major infrastructure and housing projects to reduce cost overruns, saving billions of dollars.

Infrastructure Victoria updates Victoria’s 30-year infrastructure strategy every three to five years. Following stakeholder and community feedback, the completed strategy will be tabled in the Victorian Parliament. The Victorian Government is required to respond to the strategy’s recommendations.

Victoria is the second most populated state in Australia and has the second largest economy in the country.