Engineering, Passenger Rail

Queensland grants $800m to Cross River Rail

The Palaszczuk Government has made an in-principle commitment of $800 million towards building the long-talked-about Cross River Rail project under Brisbane.

Monday’s announcement came as the state’s independent infrastructure adviser, Building Queensland, declared the project ready for state investment.

Premier Annastacia Palaszczuk heralded the move as the biggest funding commitment to Cross River Rail by any government in Queensland’s history.

“This builds on our recent commitment of $50 million in the 2016/17 State Budget to establish the Cross River Rail Delivery Authority and commence early work, and $634 million funding to deliver the critical European Train Control System which will pave the way for the project,” Palaszczuk said.

“With the business case now endorsed by my Cabinet, it will be provided to the Federal Government and Infrastructure Australia to ensure we urgently secure Federal funding,” she added.

The premier offered a plea to national leadership to support the project.

“The Federal Labor Opposition have clearly demonstrated their commitment to this project,” she said.

“It’s time Malcolm showed he is serious about backing this nation-building infrastructure project that his own infrastructure advisory body has identified as a high priority initiative for the country.”

Deputy premier and infrastructure minister Jackie Trad said support from all three levels of government and partnerships with the private sector would be essential to getting the project across the ground.

“We expect the $5.4 billion Cross River Rail project will transform from a single piece of transport infrastructure into one of Australia’s largest innovation and economic development initiatives,” Trad said, “driving new development and population growth, better access to jobs and schools, and higher property values.

“The economic case is clear that for every dollar we invest in Cross River Rail, our economy will see a return of $1.21.

“Supporting this project should be a no-brainer decision for the Federal Government, Brisbane City Council, and private partners.”

Treasurer Curtis Pitt said the in-principle commitment of $800 million fits with the priorities of the 2016/17.

“The Palaszczuk Government’s contribution to this project will come from the State Infrastructure Fund which received an allocation of $2 billion in the Budget I handed down on 14 June,” Pitt said.

“Delivery of Cross River Rail will require support from all levels of government, as well as third-party finance and close examinations of value-sharing options.

“Our commitment is contingent on funding contributions from the Commonwealth Government and clearly this is exactly the type of project Queenslanders expect them to back.

“Malcolm Turnbull will shortly have the business case, which is also being sent to Infrastructure Australia, so he has everything he needs to back this project.”