Global Infrastructure SherpaRichmond Road Upgrade Project Funding
The Albanese and Minns governments are equally funding the $720 million Richmond Road upgrade project, which includes the M7 Motorway to Townson Road upgrade and the Elara Boulevard to Heritage Road upgrade.
Deal Analysis
- Total funding of $720 million indicates a substantial investment in the region's transport network.
- Joint funding by the Albanese and Minns governments highlights a collaborative approach.
- The project focuses on upgrading key road segments, potentially improving traffic flow and accessibility.
- Involves the Australian Government and the New South Wales government, key players in infrastructure development.
Source Intelligence
The Richmond Road Upgrade includes three major projects: $520 million M7 Motorway to Townson Road upgrade, $150 million Elara Boulevard to Heritage Road upgrade, and the $50 million Richmond Road Corridor planning project. The Australian Government has committed $37 million toward the planning work. "The contracts awarded in October last year cover the M7 Motorway to Townson Road upgrade and Elara Boulevard to Heritage Road upgrade." "Up to 89,000 vehicles use Richmond Road each day" "Traffic modelling shows the upgrades are expected to cut average travel times by around 21 per cent during the morning peak and 34 per cent in the afternoon peak once complete."
"projects are equally funded by the Albanese and Minns governments."
"projects are equally funded by the Albanese and Minns governments."