Infrastructure projects are booming across Australia, with the NSW Government undertaking many projects which could represent work opportunities for your business. Of note, is the Parramatta Light Rail Project which is currently underway. A $2.4 billion project to connect suburbs in the west and north-west of Sydney. In a media release in late March, it was announced that major construction work would start mid-year on the maintenance and stabling facility at Camelia.
This stage of the project follows the completion of the remediation works which were carried out as an important stage of the prep works for the project. The total cost of the remediation works is $86.7m. Impressive contracts have been available for works on this project and continue to be offered through the Transport for NSW contracts process. For operators interested in investigating if work could be available for your business, either directly with TfNSW or through one of the awarded contractors, details are available at https://www.transport.nsw.gov.au/industry/contracts-awarded
Major Railway Station Upgrades
Here’s another heads-up, the NSW Government has also announced it will undertake upgrades to a number of train states in the inner-west. The work, valued at around $40m, is set to start later in 2021 and will be carried out on Erskineville and St Peters stations. Work is scheduled to continue to a completion date in 2024. So now doubt, work is on the table for operators in many trades and services.
The upgrades to these stations are part of the even larger Metro City and Southwest projects which will entail changes to the rail lines and services.
NSW Infrastructure Pipeline
The NSW Government had already committed to a massive pipeline of infrastructure projects prior to the COVID-19 pandemic. The economic impacts and responding stimulus packages further expanded and sped up the scheduling of some projects to create jobs and work for NSW businesses.
The redevelopment of the Sydney Football Stadium (SFS) is another massive project which is in progress. At the end of March 2021, the Minister for Sport, Geoff Lee, announced the concourse was completed, marking a significant milestone.
Redevelopment of the Sydney Fish Markets is another major project for NSW and in October 2020, Multiplex was announced as the builder. This is a $750m project which is due for 2024 completion. Hansen Yuncken was appointed in July 2020 as the managing contractor for stage one of the project.
Securing Construction Work with NSW Government
As with all government work, those interested in getting work with the NSW Government should refer to the government procurement processes and procedures. The process for procurement of construction work services differs from the government’s processes for other goods and services.
To assist those interested in tendering, the department provides frameworks, templates and other resources. These can be checked out at https://buy.nsw.gov.au/categories/construction
Getting Equipped for Major Projects
Major infrastructure projects can involve a massive range and number of trades, skills, equipment and specialties throughout the life of the project. Securing work on a major project can representative a lucrative business opportunity over, at times, an extended period. Offering some businesses security of work that is greatly valued and not always achievable for contractors.
But securing those contracts can be a highly competitive process. Jade Equipment Finance can provide assistance through cheap finance to acquire the necessary equipment for a particular project. Some tenders may require applicants to display capabilities with quality machinery and equipment readily available.
If you need to upgrade or expand to take on the work that is available through government channels or other sources, acquiring the necessary machinery at the cheapest finance can be critical to achieving your expected profit margins. We assist with competitive equipment finance interest rates on a wide range of equipment and machinery used in the construction sector.
Machinery and equipment financed include yellow goods, wheeled goods, earthmovers, dozers, drilling equipment, levellers, loaders, cranes, specialised vehicles and custom machines and many, many others.
Finance Options
Our finance options encompass the full portfolio of commercial finance facilities used for the purchase of construction equipment:-
- Equipment Loan or Chattel Mortgage
- Equipment Lease
- Equipment Rental or Rent-to-Own
- Commercial Hire Purchase
We recommend that business owners consult with their accountant or finance personnel in regards to which finance product will deliver the optimum benefits for their particular structure. Our cheap interest rates apply across all our finance options but the rate varies.
Calculating Estimates for Tenders and Budgeting
To further assist operators with completing both tenders for contract works and for their own budgeting purposes, we have provided an easy and free-to-use online equipment finance calculator. This device generates repayment estimates which can be used for budgeting and/or comparing different machinery makes and models prior to purchase.
As additional support for our equipment finance customers, Jade Equipment Finance assigns a highly-trained and skilled finance professional to each customer. Your consultant will source and negotiate the cheapest finance deal from across our lender panel. Plus provide you with high level insights and expertise in structuring a package designed to work towards achieving your desired outcome.
If you’re keen to take advantage of work opportunities in the infrastructure area, speak with Jade as to how we can assist you with cost-effective finance.
Contact 1300 000 003 for quotes on all types of construction machinery and equipment.
DISCLAIMER: IF MISINTERPRETATIONS, MISREPRESENTATION OR ERRORS EXIST IN THIS ARTICLE, NO LIABILITY IS ACCEPTED. THE INFORMATION IS PROVIDED ONLY FOR GENERAL PURPOSES AND NOT IN ANY MANNER INTENDED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADDITIONAL GUIDANCE OR ADVICE SHOULD REFER TO AN INDEPENDENT FINANCIAL ADVISOR.
