NSW Budget in the fast lane - $590 million boost for infrastructure projects

Published 23rd June, 2015

NSW Premier Mike Baird today announced a major cash injection of more than $590 million to fast track delivery of big ticket transport, road, hospital, schools and cultural projects.

Mr Baird said $590.6 million will be allocated to bring forward construction of vital infrastructure projects ultimately making them happen faster.

“We are not waiting any longer - this money will get these projects underway or ready to go as soon as possible so the people of NSW can start seeing the benefits,” Mr Baird said.

“Whether it is busting congestion or providing brand new Metro train lines to reduce crowding on our public transport, these projects are really going to make a difference.

“We committed to undertake a long-term lease of 49 per cent of the electricity network and deliver on our Rebuilding NSW commitment to invest $20 billion in new infrastructure.

“These transactions won’t start taking place for many months, and we don’t have time to wait for the money to land, so that is why we are unlocking this funding early to get started.”

NSW Treasurer Gladys Berejiklian said the funding will allow faster economic assessments, detailed designs, and planning work so the NSW Government’s commitments are ready to proceed quickly once the electricity network transactions are finalised.

“By making this funding available, we are not wasting any time getting moving to deliver the improvements everyone is so keen to see,” Ms Berejiklian said.

“This acceleration funding in the NSW Budget will ensure our NSW infrastructure program is now in the fast lane.”

Minister for Transport and Infrastructure Andrew Constance said the investment will dramatically increase the pace of delivery.

“This is about hitting the ground running. Ultimately this money will mean everyone will see the benefits of landmark projects sooner,” Mr Constance said.

Transport and Road programs and projects receiving acceleration funding:

Project / Program Acceleration Funding (2015/16)
Sydney Metro (City & Southwest) $50 million
Sydney’s Rail Future Stage 2 $36 million
Parramatta Light Rail $19 million
Regional Road Freight Corridor $16.5 million
Smart Motorways $15 million
Western Harbour Tunnel $13 million
Bus Rapid Transit $10 million
Traffic Management Upgrades $9 million
Bridges for the Bush $7.35 million
Gateway to the South $5 million
Pinch Points and Clearways $4 million
Rail Corridor Protection $1 million
Regional Growth Roads $1 million
TOTAL $186.85 million

An additional $22 million is allocated in 2015-16 for capital expenditure against the programs and projects listed above, bringing the total acceleration of funding in 2015-16 for transport projects to $208.85 million.

In addition, pledged hospital projects, new schools, roads and arts and cultural projects will also be boosted with acceleration funding to get them underway sooner.

Project Acceleration Funding
Initial development of road sector priorities in 2014-15 $16 million
New schools (Ballina, Parramatta, Inner Sydney)  $160 million
Regional Health Multipurpose Services (MPS) (Barham, Bonalbo, Molong, Walgett) $76.7 million
Pacific Highway (Ourimbah to Glen Rd, Ourimbah) $65 million
Mitchell Highway (Guanna Realignment) $38 million
Newell Highway (Trewilga Realignment)  $27 million
Walsh Bay Arts Precinct $11 million
Parramatta Powerhouse Museum relocation $10 million
TOTAL $403.7 million
PROGRAM ACCELERATION - TOTAL  $590.6 million
Published 23rd June, 2015