The federal government has finally put money on the table, investing $176.1 million toward building Rookwood Weir.
The $352.2 million Rookwood Weir is moving ahead, with the co-signing of a funding agreement with the Queensland government, who have also invested $176.1 million.
The investment comes four years after the Turnbull government committed $130 million to the Rockhampton water project leading into the 2016 federal election.
Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said the funding showed the Australian government's commitment to developing regional communities.
"We welcome the progress on Rookwood Weir - a project that will deliver around 200 jobs during construction, increase water security and expand irrigated agricultural production in the Lower Fitzroy River region," Mr McCormack said.
"By growing our agricultural production, we are supporting regional Australian livelihoods, creating jobs and contributing to regional economic recovery."
Rookwood Weir is being constructed on the Fitzroy River, 66km south west of Rockhampton. It is scheduled to be completed in 2023.
Capricornia MP Michelle Landry said the project would provide water security in Gladstone, the Capricorn Coast and Rockhampton regions.
"I have fought hard for years to see Rookwood Weir come to fruition and it's welcome news that the funding agreement has finally been agreed upon between the Queensland government and the Australian government," Ms Landry said.
"Now, federal funding will start flowing to Rookwood Weir in accordance with the condition of the Queensland government meeting construction milestones.
"I share the considerable uncertainty expressed to me by farmers, land owners and graziers on the total water capacity for Rookwood Weir, and I sincerely hope the Queensland government allocates adequate water for agricultural use at a fair price.
"The access to reliable and affordable water is integral to the growth of Central Queensland's agriculture sector and it increases Central Queensland's chances of becoming Australia's next food bowl in tandem with other water projects like Connors River Dam and Urannah Dam."
Flynn MP Ken O'Dowd said the Rookwood Weir would help deliver water to drive greater economic productivity in the region.
"Water security is always a critical concern for our region and the Rookwood Weir project will help alleviate this concern," Mr O'Dowd said.
Rockhampton MP Barry O'Rourke said the federal government's involvement was well overdue.
"It's good that the federal government has finally put their money where their mouth is, but what took them so long?" Mr O'Rourke said.
There has been work happening on the ground for a full year now, starting with upgrade works on Thirsty Creek Road in November last year and it's been entirely funded by the Palaszczuk government up until this point."
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