Massive boost to regional infrastructure
The boost will include a:
- $1 billion Regional Roads Fund to deliver safer roads, better access for high productivity vehicles to deliver produce to market, reserve regional transport corridors, upgrade regional bridges and provide better roads.
- $1 billion Regional Water Fund to ensure regional communities have reliable access to good quality water supplies and adequate protection from major floods
- $2 billion Schools and Hospitals Building Fund to ensure doctors, nurses and patients have access to world class local hospitals and regional students can learn in modern high quality classrooms.
The NSW Government’s proposed long-term lease of 49% of NSW’s electricity distribution and transmission businesses will make this boost possible.
The proposed lease is expected to release up to $20 billion for new infrastructure investment in NSW where 30%, or approximately $6 billion, will be spent in regional NSW.
NSW Premier Mike Baird said the boost would ensure regional communities got access to world-class infrastructure, as well as creating jobs in regional areas and securing a pipeline of investment.
“This is a plan to ensure regional NSW can thrive for future generations,” Mr Baird said.
The plan will also protect jobs in regional NSW, put downward pressure on electricity prices and secure record investment into regional infrastructure from the lease of metropolitan assets.