Federal Government will only invest an extra $750 million on the Pacific Highway if the NSW Government matches funding
May 12, 2011
The Federal Government says it is prepared to invest an extra $1 billion in the Pacific Highway, but NSW will need to match a large amount of the funding.
The Federal Budget has taken $270 million from the proposed M4 East project to funnel into finishing off the Pacific Highway duplication.
The Government is planning to spend another $750 million to complete the planning and construction of the final stages of the highway if NSW matches it dollar for dollar.
Minister for Infrastructure and Transport Anthony Albanese says the extra funds will allow the construction of the Frederickton to Eungai section to be brought forward.
“We have already begun negotiations with the NSW Government with the aim of securing a matching contribution so construction along the incomplete sections can begin as soon as possible,” he says.
“Matched funding from the NSW Government is critical to achieving our shared commitment of completing the highway by 2016.”
The Budget also defers $150 million for the F3 to Sydney Orbital feasibility study until the 2015-2016 financial year. The project was due to begin in 2013-2014.