- Committed investment in resources and energy major projects in Australia increased to a record $268.4 billion
- The $268.4 billion investment value consists of 87 projects that have received a final investment decision including 51 minerals projects, 18 gas and petroleum projects and 18 infrastructure projects.
- “‘Mega projects’ which cost more than $5 billion continue to be the principal driver of the record level of investment in the resources and energy sectors” said Professor Quentin Grafton, Executive Director and Chief Economist at BREE.
- There are 11 ‘mega projects’ identified in the report that account for $201 billion, or 76 per cent of the total committed investment in resources and energy major projects.
- In the six months to October 2012, 10 projects worth $13.2 billion were committed to after receiving a positive final investment decision.
- “Looking forward, any substantial net increase to the dollar value of committed projects will require either cost increases to larger, existing projects and/or a new final investment decision on a large project within the coming year” said Professor Grafton.
From The Bureau of Resources and Energy Economics
