A range of investments to sprinkle on Sydney

Three significant investments into Sydney's economy were announced recently, shedding some sunshine on an otherwise rainy week.

The technology, transport and defence sectors are to be the primary beneficiaries of these projects, which may bolster prospective property investment in Sydney.

The excess rainfall over the last year has accelerated a project worth $134 million of investment that is sure to benefit Sydney.

The Ballast Rehabilitation Program, aimed at streamlining the Interstate Rail Network, will "upgrade the ballast and drainage systems along the main north-south rail line connecting Sydney to Melbourne".

Federal infrastructure and transport minister Anthony Albanese explained that the fast-tracked timeline is to ensure the safety and dependability of the rail network.

He said: "All up, the Gillard Labor government is rebuilding more than a third of the Interstate Rail Network- or some 3,800 kilometres of track- as part of our broader efforts to lift national productivity, curb harmful carbon emissions and take pressure off our highways."

Mr Albanese noted that the heavy rainfall after ten years of drought added pressure to the construction, which should now be completed within 18 months.

At the same time other projects are flowing into the state capital.

Thales Australia, one of the nation's largest defence contractors, confirmed its new headquarters will be located in Sydney. Invest in Australia reports that Thales is to shower the city with $10 million in investment funds and produce around 500 jobs.

The venture represents support for small business contractors and the manufacturing sector which deputy premier and minister for trade and investment Andrew Stoner described as important to the defence industry.

A New York-based company called Capital Integration Systems, best known as CAIS, has also announced plans to open an office in Sydney. Offering an "alternative investment platform to the global wealth management industry", the financial technology company was drawn to Sydney by burgeoning demand in the Asia-Pacific region.

CAIS, which has offices worldwide, intends to "expand the team" in 2012. CAIS managing principal and head of Asia-Pacific Jeremy C Norton said: "Our Sydney office will give us on-the-ground presence and clearly demonstrates our growing commitment to our clients and the overall region."

The rain is expected to continue until the middle of next week, but maybe the economy will keep Sydneysiders high and dry.

Sydney stories - Posted by Grace Neale