Prime Minister Malcolm Turnbull has today announced $3.2 billion of federal government funding for Western Australian infrastructure projects ahead of next month’s budget, however, there is still uncertainty around the timing of a number of those projects.
PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss $3bn federal infrastructure boost, Perth’s urban sprawl, Burrup gas projects, global LNG production, Westin Hotel opens and mining projects.
Long-running plans by Vikas Rambal’s Perdaman Industries to build a multi-billion dollar urea manufacturing plant in Western Australia have received a fillip, with his group signing a gas supply agreement with Woodside Petroleum.
Perth’s CBD office market recorded $740 million worth of major transactions in the 12 months to March 2018, more than three times higher than it was this time last year, according to research undertaken by Savills Australia.
Consulting group Energy Quest has cast doubt over the long-held expectation that Australia will overtake Qatar as the world’s largest LNG producer, in part because of the anticipated decline in production at Woodside Petroleum's North West Shelf project.
Australian shares have opened flat with investors remaining cautious following the news US Treasury Secretary Steve Mnuchin will visit China next week amid trade tensions between the world's two largest economies.