The Victorian Government announced this week that it will partner with Transurban to build the $5.5 billion Western Distributor Project.
The multi-billion-dollar project includes the Monash Freeway Upgrade and upgrades to Webb Dock.
“We’re getting on with the Western Distributor to provide an alternative to the West Gate Bridge, slash congestion on the M1 from the west to the south east and create thousands of new jobs,” said Premier Daniel Andrews in a statement.
Mr. Andrews, Treasurer Tim Pallas and Minister for Roads Luke Donnellan on Tuesday released the Victorian Government’s reference business case, which shows the project stacks up financially, delivering a benefit of $1.30 for every dollar invested.
The Western Distributor is anticipated to deliver immediate travel time savings of up to 20 minutes a day, take 6000 trucks off the West Gate Bridge, and create 5600 new jobs.
The estimated $5.5 billion project will:
– Widen the West Gate Freeway from 8 to 12 lanes between the M80 and Williamstown Road.
– Build a tunnel under Yarraville and a second river crossing over the Maribyrnong.
– Construct an elevated road along Footscray Road with direct links to the Port of Melbourne.
– Create the longest managed motorway system in Australia from Geelong to Pakenham.
– Build 4.5km of new cycling and pedestrian paths including completion of the Federation Trail.
The final scope and design of the project will be confirmed in consultation with the community, local government and industry during a comprehensive planning process to be undertaken during 2016.
The Victorian Government will also deliver the Monash Freeway Upgrade as part of the project, providing a network-wide solution and streamlining traffic from Geelong to Pakenham.
The project will be funded through a combination of tolling on the Western Distributor, an extension of Transurban’s CityLink concession, and state and Commonwealth Government contributions.
Construction on Webb Dock will begin this month, the Monash Freeway Upgrade section will start construction in 2016, construction on the Western Distributor begins in early 2018, and the full project will be completed by 2022.
The Government has moved to Stage 4 of the market-led proposal guidelines and has submitted the business case to the Commonwealth Government and Infrastructure Australia for assessment and funding consideration.