The Federal, Victorian and NSW Governments have agreed to ‘re-profile’ three major infrastructure projects to free up funds for rebuilding after the floods in those states.

 

The three affected projects are:

  • Regional Rail Link – Victoria: $500 million will be re-profiled. The project was initially costed at $4.3 billion (although that has now increased to $5 billion), with the Federal Government contributing $3.2 million.
  • Princes Highway East (Traralgon to Sale) – Victoria: $20 million will be re-profiled in light of the revised construction timetable brought about by the restrictions placed on the project under the Environmental Protection and Biodiversity Act.
  • Northern Sydney Freight Line - New South Wales: $100 million will be re-profiled to better reflect construction milestones.

It is not clear from the Federal Infrastructure Minister Anthony Albanese’s statement exactly what is meant by ‘reprofiling’.

 

The three affected projects are in addition to six Queensland based projects which the Prime Minister has already announced would be deferred by up to 36 months as well as the cancellation of South Australia's O-Bahn project