m4 motorway sydney

NSW Government stake in WestConnex could be sold for infrastructure projects

image courtesy of https://en.wikipedia.org

Plans to market the state-owned Forestry Corporation were abandoned following the bushfires. That sale would have increased by approximately $1 billion. Many large infrastructure projects in NSW remain unfunded.

Treasurer Dominic Perrottet declared a scoping study into the viability of offloading the toll road to boost revenue for infrastructure projects.

The Government owns 49 per cent of WestConnex, while another 51 per cent was sold in September 2018 to Transurban for $9.3 billion.

That money has financed the building of the last stage of this WestConnex roadway that joins the M4 and M5.

There are significant infrastructure projects in the pipeline which are unfunded, including the Western Harbour Tunnel and motorway link to the northern shores.

The research is expected to take at least six months.

The WestConnex motorway has been opening in phases.

This past year, the new M4 tunnels started, while the new M5 is expected to open later this year.

Construction of the tunnels linking both and the Rozelle Interchange is expected to be finished by 2024.

Leave a Reply

Your email address will not be published. Required fields are marked *