I am delighted to announce today that the Australian Government will formally offer a further $10 million from the AusLink Strategic Regional Program towards the upgrading of the Peninsula Development Road from Lily Creek to Crocodile Gap.
This particular project is designed to seal around 30 kilometres of road between Lakeland and Laura, and gives a firm practical starting point for the future long-term upgrading of the Peninsula Development Road.
I wish to commend the Cook Shire Council, who have submitted an AusLink Strategic Regional application for these works. They will shortly be receiving their formal funding offer.
Our $10 million funding offer is sourced from the $250 million AusLink Strategic Regional road funding announced on Budget night and is aimed at boosting productivity in regional economies.
This funding will bring our commitment to the Peninsula Development Road up to $15 million, including the $5 million we have previously provided to the road.
I also note that the Queensland Government has previously indicated that they will contribute $10 million of their own to match Australian Government funding for these works.
Additionally, following massive damage to the Peninsula Development Road caused by cyclones last year, I announced that the Australian Government would initiate - in conjunction with the Queensland Government - a study of the feasibility and cost of upgrading the Peninsula Development Road.
While the time taken by Queensland to prepare the actual study document has taken much longer than the Australian Government would like, they have now finally provided us with a draft copy.
The finalised study will inform any future considerations of the Australian Government on future upgrading of the Peninsula Development Road.