The Australian and Victorian Governments today struck agreement on a $3 billion Victorian Infrastructure Package that will unlock critical funding for more than 40 key road and rail projects across the state.
Prime Minister, Malcolm Turnbull said this multi-billion dollar package will improve access to our road networks, jobs and economic hubs.
“I am pleased the Victorian Government has matched our funding of $1.5 billion to deliver vital upgrades to 40 road projects across the State,” Mr Turnbull said.
“These projects will drive investment and innovation, improve freight efficiency, and business productivity.
“We are investing and building for our future by reducing congestion as our population increases - this includes $1 billion upgrade to the Monash Freeway to ease traffic congestion.
Minister for Infrastructure and Transport, Darren Chester said commuters will experience the benefits in the long term with efficiencies - allowing people to do business or get to work quicker.
“We will be delivering Monash Freeway upgrades, M80 Ring Road upgrades, Murray Basin Freight Rail Project, an Urban Congestion Package, and a Rural and Regional Roads package,” Mr Chester said.
“Following our commitment to invest in an Urban Congestion package the O’Herns Road Interchange project has been included.
“The Australian and Victorian governments have also agreed to develop a comprehensive business case for the Monash Freeway upgrade to investigate and consider options to reduce congestion. This will be oversighted by a joint Australian and Victorian government steering committee.
“We are proud to be delivering the roads that Victorians have been waiting for and we are confident they will reap the benefits.”
The Australian Government has committed $1.5 billion, the Victorian Government has committed $1.5 billion.