Australian roads budget aimed at urban stretches

The Australian Government is only allocating central funding to urban road projects in its Budget 2015. Major projects that will receive federal funding are the WestConnex motorways, urban roads around Badgerys Creek and the widening of the Pacific Highway. The Federal Government will provide US$1.2 billion (A$1.5 billion) in grant funding as well as an additional $1.6 billion (A$2 billion) loan for the WestConnex project. Meanwhile the NorthConnex project under the Pennant Hills Road in Sydney will receive
May 15, 2015 Read time: 1 min
The Australian Government is only allocating central funding to urban road projects in its Budget 2015. Major projects that will receive federal funding are the WestConnex motorways, urban roads around Badgerys Creek and the widening of the Pacific Highway. The Federal Government will provide US$1.2 billion (A$1.5 billion) in grant funding as well as an additional $1.6 billion (A$2 billion) loan for the WestConnex project. Meanwhile the NorthConnex project under the Pennant Hills Road in Sydney will receive $324 million (A$405 million). The roads in Badgerys Creek will be upgraded at a cost of $2.32 billion (A$2.9 billion).
Finance & Funding Road Structures

Related Content

  • 2-year delay to new Kentucky bridge could cost US $300mn
    August 24, 2012
    The cost of the Brent Spence Bridge project in Kentucky could rise by US $300 million, to around US $2.76 billion, if its completion is delayed by two years, according to a report by the US Federal Highway Administration.
    Read More
  • World Bank providing loan for key Kenyan roads
    October 9, 2012
    The World Bank is offering the Kenyan Government a loan worth nearly US$300 million to fund road projects. The lion’s share of the money will be used to construct a double decker road link in Kenyan capital Nairobi. The 30 year repayment loan will also feature a grace period of 10 years. The Kenyan Government will contribute a small sum to the project and will also be in charge of the tender process.
    Read More
  • Hungary’s national road development boom gathers pace
    January 7, 2014
    Hungary is experiencing a road development boom. In line with the country's New Szechenyi Plan (USZT), some €3.67 billion (HUF 1.1 trillion) is to be made available for road development works. National infrastructure development company NIF says it launched road projects worth a total of €1.5 billion (HUF 450 billion) in 2013. Contracts have been signed for the full amount. Hungary's M4 motorway is to be opened in 2016 between Abony and Fegyvernek. The 29km motorway section will also include a bridge over
    Read More
  • Funding for key Russian highway projects
    May 10, 2012
    A notable partnership deal looks set to provide funding for key Russian highway projects. A memorandum of cooperation has been signed between the state-owned Russian Highways (Avtodor) and the European Bank for Reconstruction and Development (EBRD). Under this deal the EBRD may provide loans to Avtodor, redeem bonds, or co-operate on concession agreements. This funding stream will allow Avtodor to implement its key PPP projects. Avtodor and the EBRD have been discussing the highway linking Moscow with St Pe
    Read More

Highlighted Content