Monday, July 15, 2024

New Zealand’s National Infrastructure Pipeline Surpasses $120 Billion | Headlines

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New Zealand’s National Infrastructure Pipeline, which details current and planned infrastructure projects, has exceeded $120 billion, according to Infrastructure Minister Chris Bishop.

“Our Government is investing a record amount in modern infrastructure that Kiwis can rely on as part of our plan to rebuild the economy,” Bishop stated. “This pipeline shows that local government and the private sector are also rising to the challenge posed by New Zealand’s massive infrastructure deficit.”

The total value of projects in the pipeline has grown by 11.7 percent since the end of last year. Data from the Infrastructure Commission indicates that around $44 billion worth of projects are currently under construction across central government, local government, and the private sector.

Projections from the New Zealand Infrastructure Commission estimate that $12.1 billion will be spent on infrastructure in 2024, with at least $11.6 billion projected for 2025. Notably, almost 70 percent of the projects in the pipeline have confirmed funding sources.

The pipeline, produced by the New Zealand Infrastructure Commission, includes information on current, planned, and anticipated infrastructure projects and programs aimed at maintaining, renewing, and improving vital infrastructure. These projects are submitted by central government bodies, local councils, and the private sector.

In addition to the record infrastructure investment announced in Budget 2024, efforts to streamline consenting pathways through RMA reforms will aid in building and maintaining quality infrastructure for New Zealanders.

A key priority is the development of a 30-year National Infrastructure Plan for New Zealand, which the Infrastructure Commission has been asked to lead. Insights from the pipeline will play a crucial role in developing this plan. Bishop encourages all infrastructure providers to participate in the Pipeline process and maintain up-to-date information on their projects and investment intentions.

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