Uni’s $20-billion bridge investment investment group has been announced, with investment at least $10 billion.
The announcement, made at a press conference in Melbourne, said the investment would be made in Australia and in New Zealand.
It said the fund would also have access to “a range of assets and resources that are currently not available to our investment groups”.
It will include a fund of assets from around the world, including Australia, the United Kingdom, the Commonwealth of Australia and the Netherlands.
There will also be “more than $2 billion in funds to assist us in our ongoing development of the bridge” in Sydney and Brisbane.
Australia’s bridge funding: Key points:The investment fund will invest in the following areas: New Zealand Bridge, Sydney and Melbourne Bridges, and the Commonwealth Bridges and Infrastructure Australia The Australian Government’s infrastructure and infrastructure investment program includes a $2-billion fund that has been under consideration since 2009, which was a $5-billion investment.
Prime Minister Tony Abbott said the funding would be a “great investment” in infrastructure.
“The investment will create tens of thousands of jobs, tens of billions of dollars in new revenue for the Australian economy and a major contribution to the national economy,” he said.
Mr Abbott said he would look forward to working with the federal government on the new fund.
Uni has also confirmed that it will be in charge of the investment in the New Zealand bridge project, and that it would also be the one to take over the Commonwealth Bridge fund.
Uni’s $10-billion project to build a high-speed rail link between Sydney and Perth will be funded by the $1.6-billion Commonwealth Bridge Fund.