
In a bid to ease cost pressures on Victoria’s housing and infrastructure projects, Cement Concrete & Aggregates Australia (CCAA) has lauded the state’s budget allocation towards expediting the approval and release of critical sand and hard rock reserves.
Michael Kilgariff, CEO of CCAA, emphasised the significance of releasing these reserves close to the market, stating that it would alleviate the burden on Victoria’s housing and infrastructure commitments.
Kilgariff expressed satisfaction with the budget’s support for the new Resources Victoria team and the approvals coordination function.
He highlighted the allocation of an additional $44.8 million over four years to enable Resources Victoria to operate more sustainably, supporting key initiatives such as a regulatory framework for the Mineral Resources (Sustainable Development) Act and the completion of Strategic Extractive Resources Areas (SERAs).
“This is critical to ensure approval of market-ready sand and hard rock is accelerated and decisions streamlined for earth resources developments,” Kilgariff stated.
While the 2024/25 Victorian Budget focuses on “helping families”, concerns loom over the growing debt — projected to reach 25.2 per cent of GSP by 2026-27.
This poses challenges to sustain economic growth, create jobs, and manage the pipeline of housing, infrastructure, and renewable projects needed for Victoria’s growing population.
Despite these challenges, Kilgariff commended the budget for its sustained support for the infrastructure program, maintaining a strong and sustainable pipeline of work and jobs.
The budget’s capital expenditure has surged to $24 billion for the 2023-24 financial year, averaging $19.3 billion per year over the budget and forward estimates.
This underscores the critical need for a more efficient supply chain of heavy construction materials to support the state’s ambitious infrastructure agenda.
CCAA is the peak body for the heavy construction materials industry in Australia.