Thursday, 15 March 2012 10:52
WAGO recently took the opportunity to talk to around 150 individuals, representing 80 leading European companies, about infrastructure investment opportunities in Western Australia.
Austrade's Paris, Milan and Madrid teams recently joined forces with Infrastructure Australia, a number of Australian state governments and ANZ Bank to present infrastructure opportunities to major European investors.
With a Western Australian focus on resource projects, the audience at all three events heard about the strength of WA’s economy and the significant opportunities presented by the Oakajee Mid-West Development, Browse LNG Precinct, Ord-East Kimberley Expansion, Ashburton North, and the Anketell Port and Strategic Industrial Area.
The delegates, largely from a construction background, also heard about the opportunities presented by the three major hospital projects in Perth and renewable energy projects including the Perth and Southern seawater desalination plants, and solar and wind farms.
Some of the companies in attendance already have investment in Western Australia – including BNP Paribas, Clifford Chance, Ansaldo STS and Tecnicas Reunidas, which helped demonstrate to the audience the realistic potential Western Australia offers.
Feedback was overwhelmingly positive. "It is extraordinary to have such a combined call from governments to foreign companies to come to Australia and help deliver on the infrastructure agenda," wrote a rail industry participant from France.
With limited construction activity happening in Europe, it is an opportune time for WA to attract investment from companies looking outside Europe. Foreign participation can help Western Australia address capacity constraints to deliver the infrastructure needed by the growing resources sector and growing population. It also opens the WA market to more competitive pricing and technology transfer, and brings WA companies into large multinationals' global supply chains.