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The negotiations would be part of Stage 4 of Victoria's Market-led Proposals Guideline.
Transurban CEO, Scott Charlton, said this significant milestone provides a clear path to continue engaging with the local community and industry through the critical steps of planning, procurement and delivery. He said:
"The Western Distributor will shape the future of our city with benefits felt locally and regionally, creating jobs, boosting productivity and enhancing the long-term resilience of Melbourne's transport network."
The project includes the following works:
The Victorian Government has released its business case and assessment design. This business case has provided the benchmark for government agencies and independent experts to determine that the project put forward by Transurban represents a unique value proposition for Victoria.
Under the proposed timelines, Transurban anticipates:
The Western Distributor project is currently expected to cost around $5.5 billion (nominal dollars), with exact construction costs to be determined through a competitive tender process and confirmation of the final project scope.
Transurban's proposed funding structure for the Western Distributor project remains in line with its April 2015 announcement and currently includes: