Infrastructure the big winner from energy reform

Infrastructure the big winner from energy reformInvestment in infrastructure that turbocharges productivity will be accelerated by releasing capital from energy assets, according to the Property Council of Australia.The NSW Government has today announced it will seek to bundle some of the State’s residual energy assets into a long-term lease.The Property Council’s members own assets and invest in cities for the long-haul – and it welcomes the focus on big projects, particularly the second harbour rail crossing.”New infrastructure projects to bust gridlock and boost productivity are essential as our cities continue to grow,” NSW Executive Director Glenn Byres said.”Unlocking capital tied up in energy assets will accelerate the roll-out of new rail and road projects needed right across NSW, but in particular Sydney.”Delivery of a second harbour rail crossing is a game-changer for the city and will produce a more efficient and reliable service with greater capacity.”Sydney is our only truly global city and we need the infrastructure needed to underpin its continued prosperity. “The property industry invests in cities for the long-haul and understands their economic significance – plus the case for sustainable growth.”It is time for a mature debate about how we pay for the projects that will help workers, families and businesses move around our cities.”We need to continue to find capital to seed new projects and recycling capital across the State’s balance sheet is a proven model that works.”It is already helping with projects like WestConnex and renewal of the Newcastle CBD – and can be done on a larger scale with energy assets.”Media contact: Glenn Byres, NSW Executive Director, 0419 695 435