1. Most Discussed
  2. Gainers & Losers
TCL $11.88

City Link Widening

  1. Michaelirish

    19,558 Posts.
    42
    Now that the EastWest toll road has been dumped....................the focus is back on TCL........

    "
    Tullarmarine Freeway, CityLink to get extra lanes after East West dumped
    • 18 HOURS AGO FEBRUARY 07, 2015 11:52PM

    The Tullamarine Freeway/ M80 Ring Road interchange. Source: News Limited
    Plans for a $1.1 billion upgrade of the Tullamarine Freeway and CityLink are being redrawn after the East West Link was dumped.
    But the Sunday Herald Sun can reveal the massive project, which will cut car travel times to the airport by almost 20 minutes, will go ahead under the Andrews Government and construction is due to start this year.
    The Tulla Widening project, which would add 33km of new lanes including on the Bolte Bridge and the West Gate Freeway eastbound, was unveiled by the former coalition government last year.
    It was designed to complement the $6.8 billion East West Link, and the majority is being paid for by Transurban in return for a big tolling boost.
    Some of the tolling increase was expected to flow from more traffic coming off the controversial East West Link, which Labor junked when it won the November 29 election.
    But spokeswoman for Roads Minister Luke Donnellan, Sacha Fenton, said “the Victorian Government plans to proceed with the CityLink Tulla Widening project to improve safety on the Tullamarine Freeway, CityLink and West Gate Freeway, address growing congestion and meet future demands on our transport network”.
    Ms Fenton said under unsolicited proposal guidelines, the contract between Transurban and the State Government “allows adjustments to the project scope”.
    “There is process underway now to review the contract, make necessary changes and ensure that the revised proposal provides the best value for money for Victoria,” she said.
    A $250 million section of the project, close to the airport, is jointly funded by the Commonwealth and State Government. The rest of project, worth $850 million, is funded by Transurban.
    Infrastructure Australia’s assessment brief of the original widening plan says “the project is important in accommodating increased traffic generated by East West Link Stage 1”.
    But Transurban spokeswoman Anita Orr said the upgrade was still necessary “regardless of East West Link”.
    She said that following the suspension of EWL, the company was working with VicRoads “to assess the scope of works for the CityLink Tulla Widening Project between Moreland Rd and Dynon Rd”.
    VicRoads CityLink Tulla Widening Project director Andrew Williams said the upgrade would begin later this year.
    Melbourne Airport chief Chris Woodruff welcomed the news, saying: “We welcome the Andrews Government commitment to support the CityLink Tulla freeway-widening project, which will help make it easier for people to travel to and from Melbourne Airport”.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.