WestConnex latest developments
Over the next 20 years Sydney's population is expected to increase by 1.5 million. Port and Airport growth will continue and a new transport strategy will be crucial to support the future of Sydney's economic and social infrastructure.
The motorway network and strategic solution currently in development is WestConnex and will be the largest urban motorway project being built in the southern hemisphere. WestConnex will not only rectify the predicted expansion of people and transport needs, but will also deliver more than $20 billion in economic benefits to NSW, an estimated 10,000 new jobs and hundreds of apprenticeships.
Federal Minister for Major Projects Paul Fletcher and NSW Roads Minister Duncan Gay has agreed a $2 billion Australian government concessional loan to ensure the completion of Sydney's new motorway network.This concessional loan means work can progress with a joint venture from Dragados and Samsung C&T by signing a contract with Roads and Maritime Services for the design and construct element.
The Leighton Dragados Samsung Joint Venture (LDS JV) combines extensive Australian and international experience in tunnelling and major infrastructure delivery. The project will deliver approximately nine kilometres of new tunnels with motorway to motorway connections. This will substantially improve access between the Sydney CBD, Port Botany, Sydney Airport and South West growth areas.
Congestion is costing the city money
In a joint statement Roads Minister Duncan Gay and Marise Payne Minister for Human Services said "Congestion is costing Sydney $5 billion annually in time delays and lost productivity, meaning people are spending less time being productive at work or at home with their families”. Minister Payne said "We need to keep Sydney moving as our population grows and WestConnex is a key part of our road and public transport solution to ensure we slash travel times for motorists now and in the future.”
Subject to planning approval, the project will generate revenue of approximately $1.5 billion for Leighton Contractors. Major works are expected to commence in 2016 with the New M5 scheduled to open to traffic in 2019. WestConnex is being delivered in three stages, with the final stage scheduled to open to traffic in 2023.
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