The Australian Government has made a range of investments into Australia’s national science institutions and initiatives as well as our manufacturing, construction and decommissioning industries.
Key measures
Some of the key measures include:
- $2 billion for Green Aluminium Production Credits to provide production-based grants to support Australian aluminium smelters switching to renewable electricity.
- $1 billion to the Green Iron Investment Fund to boost green iron manufacturing and supply chains by supporting early mover green iron projects and unlocking private investment at scale. Up to $500 million of this is earmarked to support long-term transformation of the Whyalla Steelworks.
- $219.3 million over 2 years from 2024-25 to provide immediate on the ground support and to stabilise the Whyalla Steelworks during administration.
- $54 million to grow the prefabricated and modular construction sector and support innovative methods of construction.
- $34 million in 2025-26 to support the National Measurement Institute (NMI) to address capital works to support operations and maintain sovereign capability.
A number of other budget measures will support:
- the continued work of the Australian Nuclear Science and Technology Organisation (ANSTO), CSIRO and the SKA project
- our commitment to completing the decommissioning of the Northern Endeavour floating production storage and offtake facility.