Olympic Dam one of 15 infrastructure projects to be fast-tracked by Federal Government under new scheme
BHP’s proposed expansion of Olympic Dam will be one of 15 infrastructure projects fast-tracked as part of Scott Morrison’s plan to dig Australia out of the COVID-19 recession.
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Infrastructure projects including BHP’s proposed expansion of Olympic Dam will be fast-tracked as part of Prime Minister Scott Morrison’s plan to build his way out of the COVID-19 recession.
Small-scale projects identified by state governments will also receive funding under a scheme to be announced today.
Mr Morrison will use a CEDA State of the Nation speech to announce 15 projects to be fast tracked by slashing approval times.
BHP’s proposed $3 billion expansion of its Olympic Dam project at Roxby Downs, which would lift copper production to around 350,000 tonnes per annum, is included on the list.
Mr Morrison will also announce a further $1.5 billion to create jobs by “immediately” starting work on small priority projects identified by state and territory governments.
Two thirds of the money will go to “shovel-ready” priority projects and the remaining $500 million will be poured into road safety works.
Mr Morrison will ask “all levels of government” and the business community to “rethink” how regulations can be reformed to boost recovery from the COVID-19 pandemic.
“Many states have already cut approval times,” he was expected to say.
“I’ve asked them all to lift their ambition further, and work with us through the national Cabinet to make deregulation a focus of Australia’s economic recovery.”
Labor leader Anthony Albanese will also address the CEDA conference today. He will lament on how the world had changed since he last spoke at a CEDA event, when “corona was just a beer, not a virus”.
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He was expected to outline challenges Australia was facing, including population growth, energy costs and skills shortages.
“These challenges confronted us before the coronavirus and will continue to test us long after the pandemic crisis has passed,” Mr Albanese will say. “Our post coronavirus actions must confront the weaknesses in our pre-coronavirus world.”
Mr Albanese will focus on the importance of looking after the elderly thought a “positive ageing strategy”.
“It will outline a plan to help Australians in their final years of paid work, to build the nest egg that will let them retire when and how they want,” Mr Albanese will say.