Melbourne's West Gate Tunnel project cost blows out by $1.2b
Melbourne motorists will pay tolls for an extra 10 years on CityLink to help pay for the West Gate Tunnel Project, which has blown out to $6.7 billion. The Victorian Government has signed the contract for the road linking the West Gate Freeway to CityLink, despite the State Opposition's threat to block the tolling deal with infrastructure giant Transurban in the Parliament. Premier Daniel Andrews said taxpayers would foot the bill for the whole project if the Liberals and the Greens carried out their threat to block a 10-year extension to Transurban's existing CityLink concession deed. West Gate Tunnel Project: New tunnels from West Gate Freeway under Yarraville Widening of West Gate Freeway from eight to 12 lanes 14km of new and upgraded cycling and walking paths New bridge over Maribyrnong River New elevated road along Footscray Rd Better access to ports, removing trucks from residential areas To be completed by 2022 "Completion/substitution payments cover project construction costs, financing costs and a return component commensurate with Transurban's investment metrics and the risk profile," the company said in a statement to the stock market.
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