Queensland’s first market-led proposal – the $512 million Logan Motorway Enhancement Project put forward by Transurban Queensland – has been given the green light.
Treasurer Curtis Pitt said in a statement that the project would significantly upgrade the Logan and Gateway Extension motorways, improve road safety and travel times, as well as create jobs and stimulate the economy.
“This is a win for the local community, Queensland road users, and especially the trucking industry that has welcomed the project,” Mr. Pitt said.
“Its economic benefits are estimated to be around $1 billion over 30 years.
“The project has been examined through the staged assessment process of the state government’s Market-Led Proposals initiative that offers private sector proponents the chance to get their ideas for new projects or services off the ground faster.”
Mr. Pitt said the Logan Motorway project was one of four market-led proposals (MLPs) worth more than $700 million in total that have progressed to stage 2 of the MLP process and the first to proceed to final binding contract stage.
Chief Executive Officer of the Queensland Trucking Association, Gary Mahon, said the project was important for the heavy vehicle industry.
“We believe the funding model for the project is justifiable given the project will remove congestion, improve safety and generate savings to the heavy vehicle industry through fuel efficiency, reduced maintenance and time savings,” he said.
“Access to and from the industrial estates bordering the motorway will also be improved.”