Construction of new port motorway will be key component of Queensland Motorways privatisation, Government says
Construction of a new Port of Brisbane motorway will be a key component of the privatisation of toll road operator Queensland Motorways, the State Government says.
Premier Anna Bligh has moved to assure voters and businesses the fire sale of a number of transport-related assets announced yesterday will not adversely impact the State.
Queensland Motorways will be sold off along with the Port of Brisbane and parts of Queensland Rail in a bid to recover $15 billion in revenue from a recession-hit budget deficit.
Bligh says the new owners of Queensland Motorways – operators of the Logan Motorway, Gateway Motorway and the under-construction Gateway duplication project – will have to finish the motorway to Brisbane’s port under the terms of any sale.
The dual-lane port motorway currently only runs 4km from the Gateway Motorway, with a single-lane road linking the motorway with the port precinct.
The sale of the Queensland Motorways lease is expected to net $4 billion for taxpayers.
Treasurer Andrew Fraser says roads and bridges will remain State-owned under any sale agreement, with a leasing agreement to include provisions to ensure toll prices remain “fair”.
“Current Queensland Motorways projects, including the Gateway Motorway duplication and the introduction of free-flow tolling, will also be guaranteed under a commercial arrangement,” he says.
“Queensland Motorways has delivered on its charter and there is no longer a need for continued government funding.”
A taskforce led by the Treasurer will be formed to determine the timing, sequence and manner of the sale.
Bligh says she had to make “hard decisions” to deal with a $14 billion hole in the budget while continuing infrastructure projects around the State.