According to the latest Queensland Major Projects Pipeline report, $71 billion worth of rail, road, energy, and water projects are expected to be delivered in Queensland over the next five years; and with the upcoming 2032 Olympics, it’s easy to see that there are significant growth opportunities that could carry over into other sectors such as health, infrastructure, and sports.
“Across the sector, planned investment has increased, funded project activity has increased to over $37 billion, and the pipeline will peak in FY23/24 with a predicted investment of $19 billion,” says Andrew Chapman, CEO of Queensland Major Contractors Association (QMCA) and Construction Skills Queensland (CSQ).
“As a sector, we are confident that the pipeline will continue to grow as new opportunities become realised, particularly across emerging energy sectors as hydrogen, rare earth minerals, and renewables projects receive funding and approvals, and defence investment increases to support new strategic partnerships.
“And that is before we factor in projects that urgently need fast-tracking to support the 2032 Olympic and Paralympic Games.”
Faced with Challenges Due To Upcoming Growth
As demand increases within the sector, the pressures to deliver on such projects does too.
Drawing from the report released by QMCA and CSQ, there are four critical challenges for the sector to overcome:
- Capacity: Sustaining and growing capacity
- Capability: Developing appropriate capabilities and skills
- Costs: Managing risks from cost escalation
- Carbon: Transitioning towards a low emissions industry and future
Leveraging Our Expertise
With a combination of both international and local experience, our QLD senior leadership team (SLT) possesses a wealth of knowledge that prepares them for the upcoming growth and its associated challenges.
Drawing from their expertise across various sectors, our SLT helps guide our state-based clients and project partners in achieving their projects on time, and to budget.
From determining appropriate levels of capacity and the mandatory capabilities associated with a project, to our foundational expertise in cost management (read our Australian Construction Market Conditions Report where we address cost escalations and its projected figures) and Embodied Carbon calculations – as project partners, we have positioned ourselves to deliver quality in a consistent and compliant manner.
While there have been general concerns around the inability to meet the increasing demand of skill and labour within the market, our team is well-versed and prepared, ready to take on the challenge.
