The value of Australia construction market is forecasted by GlobalData to decline by 2.7% in real terms in 2023, having decreased by 0.4% in 2022. A key growth market will be the infrastructure market, with output rising by 3.8% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the five largest construction projects initiated in Australia during Q4 2023, according to GlobalData’s construction projects database.
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1. Gladstone-Fitzroy Water Pipeline
The project involves the construction of a 117km underground pipeline from Laurel Bank near Rockhampton to a connection with GAWB’s existing infrastructure near Yarwun in Queensland.
Construction work started in Q4 2023 and is expected to be completed in Q4 2026.
The project aims to develop a sustainable water source that will address water quality and quantity issues and reduce radium levels in the water supply. Buy the profile here.
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2. Melbourne Renewable Energy Hub
The Melton Renewable Energy Hub project involves the construction of a 1200MW/2400MWh battery storage facilities in Melbourne, Victoria.
Construction work commenced in Q4 2023 and is expected to finish in Q3 2026.
The proposed renewable energy hub will be linked to the state’s main 500kV transmission network.
3. Royal Prince Alfred Hospital Redevelopment
The project involves the expansion of the Royal Prince Alfred Hospital with an additional 700 beds at Camperdown, Sydney.
Construction work started in Q4 2023 and is forecast to complete in Q3 2028.
The project is part of the Government’s Economic Recovery Plan for Australia under the Budget 2020-21, which is aimed to rebuild the economy, create jobs, and offset the impact of the COVID-19 pandemic. Buy the profile here.
4. Armadale-Byford line Extension
The project involves the extension of an 8km rail line from Armadale line to Byford in Western Australia.
Construction work commenced in Q4 2023 and is expected to be completed in Q4 2025.
The project aims to reduce travel time and provide the opportunity to increase the number of train passengers and enhance regional economic growth. Buy the profile here.
5. Broken Hill Cobalt Sulphate Production Plant
The project involves the construction of a cobalt sulphate production plant with a capacity to produce 16,700TPA in Broken Hill, New South Wales.
Construction work started in Q4 2023 and is expected to be completed in Q3 2025.
The plant will produce high-purity cobalt sulphate, which will be used in the manufacture of lithium-ion batteries. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
