An increasing pipeline of projects appears to bode well for the Kiwi building industry giving renewed hope of a healthier sector this spring.
The latest quarterly update from the New Zealand Infrastructure Commission shows the value of infrastructure initiatives in the National Infrastructure Pipeline has grown to $237.1 billion, an increase of $30.2 billion over the past quarter, says Infrastructure Minister Chris Bishop.
“This is great news for the construction sector and the wider economy,” he says.
“The Pipeline is managed by the New Zealand Infrastructure Commission and provides a national view of current and future infrastructure projects and programmes, from roads, to water infrastructure, to schools, and more, and includes central government, local government and private sector projects.
“The Pipeline now contains over 9,200 projects that are underway or being planned, helping New Zealand’s infrastructure construction sector plan ahead for major upcoming projects and hire and retain key staff in the right locations.
The quarterly June Pipeline update shows that the overall value of initiatives with a confirmed funding source has increased, up $13.5 billion to $125.1 billion. This has been supported by the inclusion of NZTA highway maintenance programmes and the redevelopments of Christchurch Men’s Prison and Hawkes Bay Prison.
“The Commission continues to work with infrastructure providers to improve the transparency and quality of information that is available. A more complete Pipeline improves the effectiveness and value that we can gain from this tool,” Bishop says.
There are now 121 organisations contributing, including central government, local government, and the private sector that contribute to the Pipeline data.
The Infrastructure Commission’s next data set, from June – September, will inform the final version of the National Infrastructure Plan to be delivered in December.
“I encourage the remaining councils and any infrastructure provider who is not yet contributing to reach out to the Commission, because a strong pipeline of infrastructure projects means a growing economy with more jobs and more opportunities for Kiwis,” Bishop adds.
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