The 2019 Queensland Major Projects Pipeline Report outlines the state’s current and future prospects for large resource projects. With major resource projects being primary drivers of rural industries, it is vital to understand the likely trends in these projects and the impact of these on the regional economy. The key findings that can be drawn from the report are outlined as follows:
- An overview of the Mackay-Isaac region outlines the major drivers of the area’s economy. The report outlines the primary drivers of the region as large resource projects, primarily located in the Bowen Basin region.
- There is greater certainty of major projects being delivered by the public sector, which now accounts for 70% (or $19.3bn) of funded work
- 2021/22 is predicted to be the strongest year of major project activity since 2014/15 with a 70% increase from the current 2018/19 financial year, subject to funding commitments.
- The reduced drag from falling mining investment has helped the turnaround in state economic growth. Mining investment is now rising, led by increases in mining equipment purchases and exploration, with a recovery in mining-related engineering construction expected to get underway from 2020/21.
Read more here: https://qmca.com.au/wp-content/uploads/2019/03/QLDMPP_2019.pdf