The primary aim of the schemes developed by TI is to grow the wealth of Tasmania by developing and enhancing the productive capacity of the State’s agricultural industries.
The development work of TI evolved from the Tasmanian Water Development Plan being pursued by the Tasmanian Government. TI develops schemes as public-private partnerships. This means that TI works closely with private landholders to work out how much water is wanted and shares the cost of building a scheme between the public and the private sector. A total of $220 million was set aside by the Commonwealth and Tasmanian Governments to progress Tranche One irrigation development.
The public funding contribution recognises that the wider community will benefit from increased economic activity and employment over time. Private capital contributions are made through the purchase of tradeable water entitlements. Ongoing operating costs, including provision for asset renewal, will not be subsidised and will be met by annual charges levied on water entitlement holders.
TI provides the technical, financial and project management skills to progress schemes from concept development through feasibility and construction to operations. All schemes developed by TI are designed to last 100 years, deliver water at an average reliability of greater than 95 per cent and are built to satisfy demand in each region.