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Released December 18, 2014 | PERTH, AUSTRALIA
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Researched by Industrial Info Resources Australia (Perth, Australia)--With 217 projects worth $26.15 billion, Australia's state of Victoria has a lower project investment total than neighboring states. However, Victoria is still a leader when it comes to project investments in the Industrial Manufacturing and Food & Beverage sectors.
Investments for planned industrial manufacturing projects total $8.77 billion in Victoria, with the Department of Transport, Planning and Local Infrastructure's (DTPLI) Melbourne Commuter Rail Upgrade & Airport Line Addition making up the largest share of that total at $4.45 billion. Moreover, Industrial Info is tracking more than $520 million in planned spending for Food and Beverage Industry projects.
The project investments reflect the state's export statistics. Motor vehicle exports last year amounted to AU$1.26 billion ($1.03 billion), wheat exports totaled AU$1.07 billion ($880 million) and dairy exports totaled AU$966 million ($792 million). Victoria also exported AU$1.33 billion ($1.09 billion) in wool last year. Exports of manufactured products amounted to AU$8.02 billion ($6.52 billion), or a 23.3% share for the state.
These industries are expected to remain important in Victoria in the years ahead, particularly as Australia seeks to enter new markets in China. More than 17.3% of Victoria's exports--AU$3.75 billion ($3.07 billion)--went to China. Most of this was wool, cotton and dairy products.
The Power Industry has the largest share of project investments in Victoria, with 81 projects worth more than $10.31 billion. The most expensive power project is the $891 million Penshurst grassroot 510/758.2-megawatt (MW) windfarm by Renewable Energy Systems Australia Pty Limited (Welshpool, Australia). The project is undergoing design engineering, with construction kickoff scheduled for late 2017.
Victoria is not seen as having a strong Metals & Minerals Industry, but that could change. According to the latest statistics, Victoria exported $426 million in minerals in a year's time, or only 1.2% of its total exports. However, as the bauxite industry begins to boom as a result of a lack of global supply, Victoria could be in a prime position to spearhead the industry as a result of its large reserves.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Investments for planned industrial manufacturing projects total $8.77 billion in Victoria, with the Department of Transport, Planning and Local Infrastructure's (DTPLI) Melbourne Commuter Rail Upgrade & Airport Line Addition making up the largest share of that total at $4.45 billion. Moreover, Industrial Info is tracking more than $520 million in planned spending for Food and Beverage Industry projects.
The project investments reflect the state's export statistics. Motor vehicle exports last year amounted to AU$1.26 billion ($1.03 billion), wheat exports totaled AU$1.07 billion ($880 million) and dairy exports totaled AU$966 million ($792 million). Victoria also exported AU$1.33 billion ($1.09 billion) in wool last year. Exports of manufactured products amounted to AU$8.02 billion ($6.52 billion), or a 23.3% share for the state.
These industries are expected to remain important in Victoria in the years ahead, particularly as Australia seeks to enter new markets in China. More than 17.3% of Victoria's exports--AU$3.75 billion ($3.07 billion)--went to China. Most of this was wool, cotton and dairy products.
The Power Industry has the largest share of project investments in Victoria, with 81 projects worth more than $10.31 billion. The most expensive power project is the $891 million Penshurst grassroot 510/758.2-megawatt (MW) windfarm by Renewable Energy Systems Australia Pty Limited (Welshpool, Australia). The project is undergoing design engineering, with construction kickoff scheduled for late 2017.
Victoria is not seen as having a strong Metals & Minerals Industry, but that could change. According to the latest statistics, Victoria exported $426 million in minerals in a year's time, or only 1.2% of its total exports. However, as the bauxite industry begins to boom as a result of a lack of global supply, Victoria could be in a prime position to spearhead the industry as a result of its large reserves.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
