Truck operators traversing both the bustling and tranquil transport routes of Australia can anticipate infrastructure advancements, thanks to the new rounds of funding for the Bridges Renewal Program (BRP) and the Heavy Vehicle Safety and Productivity Program (HVSPP). On 29 September 2020, Deputy PM and Minister for Infrastructure, Transport and Regional Development, Michael McCormack, announced a substantial $290m funding, aimed at enhancing heavy vehicle infrastructure nationwide.
This encompasses 350 projects within these rounds. As highlighted by Mr. McCormack, such an initiative will make freight routes more efficient and, importantly, safer.
In making the announcement, the Deputy Prime Minister acknowledged the significant role that the trucking industry has been playing to keep the economy running during the COVID-19 crisis. In fact, for many businesses, considering no deposit truck finance has been a significant decision to keep the wheels turning.
Bridges Renewal Program (BRP)
The BRP is an initiative which funds the replacement and upgrade of bridges as part of the Local and State Government Road Safety Package. 80% of the funding goes to local councils to carry out the works. These upgrades have been described as not only to improve access for locals but also facilitate productivity increases for vehicle access - a vital factor considering the boom in commercial van finance options.
The allocation is based on merit, and state, territory, and local governments can submit their proposals for funding needs.
This current Round 5 of grants cover 205 projects which include: Naas Road and Hindmarsh Drive Bridges in the ACT; NSW bridges in Valla, Peelwood, Hillsborough, Goodooga, Wantagong, Breelong, Oaklands, Grenfell, Gerroa, Razorback, Bendooa, Comboyne, Cowra, Orange and many others; Esk, Currumbin Valley, Malanda, Koah, Cloncurry, Tandur bridges as well as several others in Queensland; bridges in South Australia at Kurralta Park, Light Pass, Seppeltsfield, Bordertown and Barraba and others; numerous locations in Tasmania including Queenstown, Mount Direction, Gawler and Edith Creek; in Victoria, bridges at Meredith, Rokewood, Clyde and Epson are among the long list to receive attention; and in Western Australia projects in Round 5 are located at Jarrahdale, Vasse, Capel, Caversham and Mordarlup.
For the full list of projects
Heavy Vehicle Safety and Productivity Program (HVSPP)
HVSPP is a Federal Government initiative which funds infrastructure projects which are particularly focussed on improving the productivity and the safety outcomes for heavy vehicle operators. Round 7 of this program covers 146 projects including livestock transport projects that should provide support to communities which have been impacted by the long-running drought. It's especially significant for those who have opted for truck finance for new business start-ups.
Upgrading of the Western Queensland Livestock Exchange in Longreach Queensland is one such project. Others include the Stock Route in Corryong, Victoria; heavy vehicle bypass of Tammin South in WA; the South Hedland road train assembly area in Boodarie, WA; Welsford Street in Shepparton, VIC; Grays Road upgrade in Paraparap VIC; Railton main road upgrade in Latrobe TAS; Barossa Valley Way upgrade in Altona, SA; Barwon Highway upgrade at Weengallon in QLD; Camp Road upgrade in Greta, NSW; Armidale Road upgrade at Clouds Creek, NSW; Henry Parkes Way upgrade at Condobolin, NSW; and Cotter Road ACT upgrade works.
Check out the full list of Round 7 projects
These rounds of projects will add to the already 500 projects funded through these programs and may be seen as further evidence that investing infrastructure is a major priority at all levels of government.
Improving Productivity with Effective Finance
While having safer roads and bridges and good road infrastructure is an important step to improve the efficiency for heavy vehicle operators, astute business owners know they still have to make their own moves to improve their own bottom line.
If new trucks are in your short-term plans, then Jade Truck Loans may be able to assist you in that move. A key lever that business owners have to improve their bottom line is sourcing the cheapest and most cost-effective finance when purchasing new trucks.
Choosing Jade Trucks as your truck finance broker can boost your business's financial efficiency. Our consultants save you time by covering off on loan offers from a broad selection of banks and non-bank lenders. On acceptance, we handle all the intricate details.
Reducing costs is pivotal to improving productivity for businesses. We negotiate each truck loan to achieve the best truck finance and leasing interest rates. Our holistic loan approach is designed to offer long-term value.
To discuss how we can contribute to your productivity with a cheap loan offer, speak with a Jade Truck Loans consultant on 1300 000 003
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