The Government of New South Wales (NSW) has reportedly secured funding of around $433 million towards the costs of the newly planned Dungowan Dam which will be built in Tamworth. The funding will be used to maintain the town's water supply and water for landholders and irrigators.

Barnaby Joyce, Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development, said it was an epic day for Peel Valley and Tamworth. Water is the capital, and dams are the banks that run regional Australia, supporting the development of towns and cities.

He said that the Nationals have secured additional funding of $433 million on the table for building Dungowan Dam as the Government has faith in the project and the region it will support.

The recent funding takes the total investment of the Australian Government towards the Dungowan Dam and pipeline to around $675 million, combined with the earlier contribution made for field and ancillary works.

Paul Toole, the Acting Premier and Minister for Regional NSW, said the Government of New South Wales is working on getting on with building dams. He said this is an essential step for the New Dungowan Dam project.

The New Dungowan Dam and pipeline construction will offer multiple career opportunities generating dollars in millions for local businesses in the coming five years, which is excellent news for the people staying around Tamworth.

It is vital to note that the commitment of NSW is conditional on a continuous, affirmed 50% co-contribution from the Commonwealth.

Additionally, the funding of NSW is also prone to the assessment of Australia's Infrastructure of the business case and completion of planning approvals.

Furthermore, the next big step for the New Dungowan Dam and Pipeline is the EIS (environmental impact statement) which is expected to display before the end of 2022, with the final investment decision to follow.

Source Credit - https://www.nsw.gov.au/media-releases/dungowan-dam-funding