NSW receives unsolicited F3 to M2 link proposal
The New South Wales Government has received an unsolicited proposal from private motorway operator Transurban for the construction of a possible F3 to M2 Motorway Tunnel link underneath Pennant Hills Road.
“Let me make it clear this proposal is in its very early stages,” NSW Roads Minister Duncan Gay said.
“But it is encouraging that the private sector is interested in investing in Sydney’s motorways and has come to Government with a proposal.”
The Government has formed a cross-agency assessment committee to assess the proposal and investigate its merits.
“There are potentially three stages to the assessment, which include strategic assessment of the initial submission, development of a detailed proposal and negotiation of a final binding offer,” Mr Gay said.
“In the next six months the committee will work with Transurban to complete Stage 2 of the assessment. This requires the proponent and Government to work cooperatively in the development and assessment of a detailed proposal, from which it can be determined whether the parties want to proceed to negotiate a final binding offer.
“It is important to note that we are still in the initial stages of the assessment process, so while we are looking into the proposal, there is no guarantee or commitment from either Government or Transurban that it will lead to delivery of a project.
“We need to be assured any proposal like this offers not only value for money for NSW taxpayers but that it also meets the NSW government’s long term transport objectives.”