Iconic Project Fund: Secured
What makes a project iconic? Scale? Lasting impact? The ability to draw you back over and over? Something that can make a moment a memory?
It’s a subjective thing. What is certain though; iconic projects require iconic budgets.
The Resources Community Investment Initiative (RCII) is a sedate name for a resources industry partnership with state government that will see investment in iconic projects in WA.
How much has industry committed to giving back?
$750 million.
If you stacked $750 million in one-dollar coins, they would extend 2,100 kilometres. Just shy of the distance between Perth and Alice Springs.
Suffice to say, it’s a lot of cash. An iconic amount, even.
A partnership between the resources industry and Western Australian Government, founding membership of the initiative includes Woodside, Chevron and Mineral Resources. Each company has committed to a contribution of $50 million. Each.
The initial pipeline of projects includes:
- Aboriginal Cultural Centre
- Perth Zoo Master Plan
- Remote Aboriginal Communities Fund
- Perth Concert Hall redevelopment
- Additional contributions to Telethon
- Regional projects in the areas companies operate in, in areas such as education and training, health, Aboriginal wellbeing and energy decarbonisation.
Check out what the Zoo of the future will look like.
Natural gas powers much of WA’s robust resources industry. This reliable and secure energy supports the jobs of over 156,000 West Australians, over five per cent of the state’s population.
About 60 per cent of Australia’s liquefied natural gas is produced in WA, with 44 million tonnes exported to Asia from the western state in 2021 alone. Not bad for a place with about 11 per cent of Australia’s population.
The RCII and its related projects are an opportunity for the natural gas industry to continue giving back to the community, on top of the work they are already doing.
Learn more:
- WAs strong economy to leave lasting legacy
- WA Government: RCII
- Woodside to deliver $50M to WA Community
- Chevron contributes $50 million for legacy WA community initiative
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