Major infrastructure and construction projects for the public sector are driving investment spend in the Australian Capital Territory, according to a report by Deloitte Access Economics.
While the total value of current investment projects for the first quarter—either in planning or already in motion—is lower than in previous quarters, public sector projects have maintained dominance. The March quarter saw a drop of $9 billion in Australian investments to $767 billion.
Public infrastructure projects include a $360 million extension to Cotter Dam, and the duplication to Gungahlin Drive at a cost of $85.5 million over four years.
Major construction projects have also controlled a significant part of ACT investment. Construction projects include the new ASIO headquarters at a cost of $600 million, a $350 million upgrade to Canberra Airport and the revivification of a precinct close to the Australian National University.
Private construction has slowed due to Canberra’s high office vacancy rates.