Jun 21, 2013

Governments sign up to funding agreement for F3-M2 link road

Federal Infrastructure and Transport Minister Anthony Albanese and NSW Roads and Ports Minister Duncan Gay have today signed an Intergovernmental Agreement on behalf of their respective governments locking in potential funding contributions required to bring forward delivery of the “missing” link between the F3 and M2.

Mr Albanese said another major milestone had been reached, with both governments coming together with Transurban and Westlink M7 Shareholders to create the opportunity to make this vital piece of nation building infrastructure a reality sooner rather later.

“After being on the drawing board for more than five decades, we have today taken another major step towards cutting travel times along the F3 and reducing congestion through Sydney’s northern suburbs,” said Mr Albanese.

“As well as removing up to 7,000 trucks a day off Pennant Hills Road, this new link will allow motorists to bypass 22 sets of traffic lights and take as much as 15 minutes off the time it takes to get from the M2 Interchange to the start of the F3.

“Without projects like this the cost of urban congestion in Sydney will more than double to almost $8 billion by the end of this decade and the City’s infrastructure will struggle to cope with the extra two million residents expected by 2036.”

The F3 to M2 Link will be a new 7.7 kilometre dual two lane road tunnel beneath Pennant Hills Road – one of Sydney’s busiest roads used by 71,000 vehicles daily (see attached map).  Both the Federal and NSW governments are contributing $405 million to the project, with the balance of the funding to come from the private sector.

Mr Gay said the multibillion dollar project is at the third and final stage of the unsolicited proposal process, with negotiations around a final binding offer underway with a final decision on the project expected by mid-next year.

“RMS will now commence community consultations, publish an environmental impact statement and obtain the required environmental and planning approvals,” said Mr Gay.

“We will continue to work closely with the private sector to progress the project and deliver a continuous motorway between Western and South Western Sydney as well as the Central Coast and Hunter regions.

“This new road will go a long way to reducing congestion on the City’s roads and speeding up the movement of freight across the State.”

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Click to enlarge

Sydney Motorways Program: F3 to M2

Map of Sydney Motorways Program: F3 to M2

 

Contact Anthony

(02) 9564 3588 Electorate Office

Email: A.Albanese.MP@aph.gov.au

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