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NorthConnex financing

10/02/2015

On 02.02.2015 the contracts between the proponents Transurban and Westlink M7 shareholders and the NSW Government were signed on the $3 billion NorthConnex project, which will be funded through toll charges, a contribution from the NSW and Australian Governments of up to $405 million each and previously outlined concession extensions on the M2/Lane Cove Tunnel and M7 and truck toll changes on the Lane Cove Tunnel and M7. Lend Lease/Bouygues Construction JV have secured the design and construction contract.

NorthConnex will link the M1 Pacific Motorway at Wahroonga to the Hills M2 Motorway at the Pennant Hills Road interchange at West Pennant Hills. The project will deliver real benefits for Sydney by easing traffic congestion, particularly along Pennant Hills Road, enabling commuters and freight trucks to bypass up to 21 traffic lights and reduce travel time by up to 15 minutes.

Approval for the construction and operation of NorthConnex had been granted by the NSW Minister for Planning on 15.01.2015. The conditions include new and extensive safeguards on the operation of the tunnel and on air quality.

Early work will start in February, with full construction activities scheduled to begin in May, 2015. The project is due to be completed in 2019. For further information click here and here. For tunnelbuilder archive click here. Visit http://www.transurban.com/northconnex.htm and http://www.northconnex.com.au. 07/15.



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