IFM Investors has proposed a new framework to help boost Australia’s economic recovery from COVID-19.
The “Building Australia Model” is a new financing model that will seek to reduce the risk of cost blowouts and delays on major greenfield projects, require long-term ownership, and ensure a competitive and transparent tender process, according to Money Management.
The model also aims to keep risks from being shifted back to governments and to increase the ability of local medium-sized contractors to compete with large contractors backed by passive investors.
“IFM Investors is ready to invest billions of dollars in job-creating Australian infrastructure projects — we are putting forward this constructive proposal to help us do just that,” said David Neal, CEO of IFM Investors. “This model is a win for taxpayers, and it’s a win for working Australians: it will help grow their superannuation returns, while delivering them the public benefit
