More than $1 billion in funding is being invested by the Australian and Victorian Governments towards the delivery of road safety improvements and congestion-busting projects across the State.
This significant package will bring forward $262 million for early works on the North East Link as well as over $184 million in additional funding for the Monash Freeway Stage 2 development that will commence next year.
Together with State Government funding, another billion dollars in funding is going to be spent over the next four years for infrastructure for Victoria.
“We’ve been working closely with the Victorian Government to identify the projects that are shovel-ready to get them moving.
“We want these road and rail projects delivered as quickly as possible so Victorians can benefit from better infrastructure and the jobs and investment that come with it,” Prime Minister Scott Morrison said.
The joint funding is set to fast track the delivery of vital road projects across Victoria.
“I’m pleased to have struck this significant agreement, which will help us deliver the vital second stage of the Monash Freeway Upgrade.
“We’ll continue working closely with the Federal Government to deliver the major projects our state needs and help create Victorian jobs,” Premier Daniel Andrews said.
Project funding brought forward include:
- $262 million for early works on the North East Link
- $7.1 million for Commuter Car Park Upgrades - Northern Lines at Craigieburn and Hurstbridge
On the other hand, additional funding include:
“The Government recognises the need for these key rural roads to receive the upgrades they need to be safer, more efficient transport corridors as soon as possible.
“Upgrading these highways will improve safety and travel times on some of Victoria’s busiest freight and passenger road corridors,” Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack said.
According to Federal Treasurer Josh Frydenberg, the investments will start flowing within months.
“There’s $370 million of the new package that will be spent in just the next 18 months to get these projects done.
“By bringing forward funding for these important road project we will drive jobs, boost the economy and make Victorian roads and highways safer, while reducing travel times so people can be with their families instead of being stuck in traffic,” Mr Frydenberg said.
Federal Minister for Population, Cities and Urban Infrastructure Alan Tudge said that this new funding boost follows a significant investment for Victorian infrastructure through the recent Budget.
“Since coming to Government we have committed more than $29.1 billion towards infrastructure in Victoria, including $6 billion in the 2019-20 Budget and the 2019 Federal Election with more than $1.4 billion in targeted local projects to be delivered under the Urban Congestion Fund,” Mr Tudge said.
This billion-dollar funding also builds on the State Government’s record investment for the delivery of major transport infrastructure across Victoria.
“This funding builds on the more than $70 billion we’ve invested in Victoria’s transport network, to boost services, reduce congestion and get people home quicker,” Minister for Transport Infrastructure Jacinta Allan said.
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Source: Minister for Population, Cities and Urban Infrastructure; Minister for Infrastructure, Transport and Regional Development; Inside Construction
