Experts on board to help drive value for money in Victorian infrastructure
21 August 2014
Joint release with:
Treasurer of Victoria
Victorian Minister for Roads
Victoria's leading infrastructure projects continue to gain momentum, with commercial and financial advisers appointed for the western section of East West Link and the Melbourne Rail Link.
Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss, Victorian Treasurer Michael O'Brien and Minister for Roads and Public Transport Terry Mulder today announced that Ernst and Young would provide expert advice throughout the project development for the western section of the East West Link.
“The western section of the East West Link will complete the missing links from the Eastern Freeway through to the Western Ring Road, providing an alternative to the Monash-West Gate freeways that are already choked by congestion,” Mr Truss said.
“The Australian Government is providing $3 billion to the overall East West Link project, including $1.5 billion to fast-track delivery of the western section to ensure Melbourne commuters spend less time stuck in traffic and more time being productive or at home with their family.”
Victorian Treasurer Michael O'Brien today announced that commercial and financial advisory contracts have also been awarded for the Melbourne Rail Link, to KPMG.
“The appointment of commercial and financial advisers to drive the delivery of the Melbourne Rail Link is an important step in securing the best value for money for Victorian taxpayers,” Mr O'Brien said.
“It is absolutely critical that we receive the best possible advice to deliver these complex projects on time and within budget,” Mr O'Brien said.
“Our governments both recognise the importance of retaining commercial and financial experts, and we look forward to working with these two firms to ensure maximise value for money for taxpayers,” Mr O'Brien.
This award of contracts follows the release of design and planning tenders for Melbourne Rail Link and the western section of East West Link in July 2014.
Minister for Roads and Public Transport Terry Mulder said the contracts demonstrated exciting progress on what is the biggest ever investment in roads and public transport infrastructure in the state.
“KPMG and Ernst and Young bring with them a wealth of experience in the infrastructure sector, and between them have worked on some of Australia's most complex transport projects,” Mr Mulder said.
“Melbourne Rail Link and the western section of East West Link are part of a $24 billion pipeline of transport infrastructure projects lined up for Victoria, and we will continue to engage with industry to boost innovation and value for money as planning gets underway,” Mr Mulder said.
“It is full steam ahead on these projects, and we are on track for construction to commence by the end of 2015 for the western section of the East West Link and in 2016 for Melbourne Rail Link,” Mr Mulder said.
Melbourne Rail Link will transform the rail network by enabling the separation of rail lines, meaning more trains, more reliably, providing capacity for 30% more passengers in the peak hour.