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Government funding model breathes life into an old project on Sydney motorway network
The funding model agreed between State and Federal Governments and the private sector for Sydney’s F3-M2 Link could serve as a model for future infrastructure delivery in other states, says AECOM’s Chief Executive, Australia New Zealand, Michael Batchelor.
Following the New South Wales and Federal Government’s agreement to each contribute $405 million in funding – with the private sector to fund the difference – the $2.65 billion missing link in Sydney’s motorway network is progressing to the next stage, promising reduced congestion and travel times for commuters.
Mr Batchelor welcomed the F3-M2 Link project as a new financing and risk sharing model for the delivery of major road infrastructure projects in NSW.
“More collaboration is key to securing infrastructure funding and ensuring the go-ahead for projects like the F3-M2 Link,” he said.
“The F3-M2 Link promises to reduce travel times and ease congestion for commuters; AECOM is proud to be working with the New South Wales and Federal Governments to improve connectivity for Sydney residents and visitors.”
When complete, the F3-M2 Link will provide an 8km tunnel beneath the Pennant Hills Road Corridor linking the M2 motorway to the existing F3 motorway at Wahroonga.
AECOM has been confirmed as Transurban’s Technical Advisor on the project, reflecting the global professional technical consultancy’s capacity to leverage innovative engineering solutions for cost savings.
As well as providing environmental approvals and preliminary geotechnical investigations, AECOM will complete reference design and performance specifications for the calling of design and construct tenders by early October 2013.
A joint project office with representatives of Transurban and the Procurement Advisor Evans & Peck has been established within AECOM’s Sydney office, enabling better collaboration and further cost savings.
Infrastructure Partnership Australia Chief Executive Brendan Lyon said the move to issue construction tenders for the project sets a benchmark for smart thinking and cooperation between Federal and state governments, and the private sector.
“By being smarter about options, the NSW and Federal Governments have leveraged a relatively modest investment to deliver a multi-billion dollar motorway, with private investors filling the gap,” he said.
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