The Government of Western Australia has committed half a billion in funding to fast track clean energy and major industrial projects in a bid to establish the state as a “global clean energy powerhouse”.
At the same time, the government will spend $36.4 million to cut green tape and accelerate approvals processes. It follows the state government in December 2023 deciding to overhaul Western Australia’s environment approvals system through a review which found approvals processes had become overly complex.
The Cook Labor government says the funds, which will be delivered through the 2024-25 State Budget, will deliver common-user and other infrastructure at strategic industrial areas (SIAs) across regional and metropolitan Western Australia.
Proceeds from the Strategic Industries Fund will also be used to prepare land for future industrial projects.
An initial $125 million will be invested to open up new industrial land at Latitude 32 in Kwinana. A further $40 million will be allocated to develop other industrial land at Karratha and in the Peel region, as well as unlock more land in the Goldfields and South West areas.
Latitude 32 forms an integral part of Western Australia’s most important industrial region, the Western Trade Coast – a gateway to international markets that employs more than 11,000 people and generates $15 billion annually, according to Development WA.
These investments build on the $35 million funding injection into the Industrial Land Development Fund included in last year’s budget.
The Strategic Industries Fund is on top of a $160 million industrial lease incentive scheme announced in late 2023 to attract clean energy projects to SIAs.
The government says there has been notable interest in access to industrial land across Western Australia for renewable hydrogen, critical minerals processing, and other job-creating industries.
Western Australia is currently home to 13 SIAs scattered across Kwinana, Rockingham, Mungari, Mirambeena, Kemerton, Shotts, Oakajee, Ashburton North, Boodarie, Burrup, Maitland, Anketell, and Browse SIAs.
Western Australia Premier Roger Cook hopes the funding will help attract major clean energy industries to the state.
“WA is the engine room of the nation’s economy, and I want to make sure our state becomes a global clean energy powerhouse,” Cook says.
“We have the renewable resources, skills and trading partnerships to become home to job-creating clean energy mega-projects, and our Strategic Industries Fund will help to unlock the industrial land we need to get these projects off the ground.”
Lands Minister John Carey says the government remains focused on supporting renewable energy industries that will help transform and “future-proof” the state’s economy.
Write to Adam Drought at Mining.com.au
Images: Stock
