Road and bridge construction among 'big winners' of federal budget
The federal government has attempted to reduce its deficit with the hotly-debated budget, but IBISWorld is forecasting road and bridge construction to emerge as a big winner from the new strategy.
The government has committed an additional $3.7 billion towards general road construction from 2013-14 through 2017-18, along with $2.9 billion over ten years for the Western Sydney Infrastructure Plan and concessional loans for Stage 2 of the WestConnex project.
Melbourne's East-West Link Stage 2 will receive an additional $1.0 billion in funding, while the Perth Freight Link will receive an additional $866.0 million.
IBISWorld estimates that the industry is worth $14.5 billion in 2013-14. The overall funding increases will provide additional revenue growth for the industry, which is largely dominated by state government authorities and private construction contractors and engineering consultancies.
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