30/03/2022 - 10:08

$1.5bn earmarked for Pilbara projects

30/03/2022 - 10:08

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WA's renewable energy and hydrogen industries are in line to receive billions of dollars in federal funding over the next decade as part of a broader investment program for regional infrastructure.

$1.5bn earmarked for Pilbara projects
Josh Frydenberg delivered the federal government's ninth budget last night. Photo: David Henry

Western Australia's renewable energy and hydrogen industries are in line to receive billions of dollars in federal funding over the next decade as part of a broader investment profram for regional infrastructure.

Last night's budget shows $7.1 billion will be invested over 11 years in so-called transformational infrastructure as part of an energy security and regional development plan to be administered through the Department of Infrastructure, Transport, Regional Development and Communications.

The program's broad remit will target an array of functions, including improving supply chains, onshore processing of critical minerals and promoting use of low-emissions technologies in the manufacturing and mining sectors.

Of funding announced, $119.2 million will be set aside for this program in the year to June 2023, with $1.4 billion to be spent over the forward estimates.

Funds will be distributed across the NSW Hunter region, the Northern Territory and parts of north and central Queensland, and WA's Pilbara region.

WA will receive $1.5 billion to help diversify the state's north-west economy, with funding to assist projects that support the mining, mineral processing and manufacturing sectors, as well as those that accelerate growth in the state's hydrogen and renewable energy industries

On average, WA will receive about $136.4 million per annum through the program.

No further details were given as to specific projects to receive funding.

Treasurer Josh Frydenberg has said these funds will form part of the $37.9 billion set aside for infrastructure projects in regional Australia in last night's budget.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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