New infrastructure investment in the ACT by the Commonwealth Government has been welcomed by the Property Council of Australia.
During 2011-12 work is expected to be completed on widening the Monaro Highway from two to four lanes between Canberra Avenue and Newcastle Street in Fyshwick (Federal contribution $18.5 million) and upgrading the road network around the Canberra Airport Precinct (Federal contribution $11.5 million).
In addition, $42 million has been allocated for the redevelopment of Constitution Avenue.
ACT Executive Director, Catherine Carter, said:
“It is disappointing not to see any announcement about funding for Majura Parkway in this year’s Federal Budget, particularly considering the ACT Government’s offer to assist in the provision of funds for that project, and also given that this is a critical piece of infrastructure on Infrastructure Australia’s top 10 list.
“However, funding for the upgrade of Constitution Avenue is very welcome. The upgrade will complement the work that has now been done on the Russell Roundabout on one of Canberra’s major roads, and links between Russell Hill and the city.
“This work will also make it easier from a productivity perspective for Canberra commuters to get to and from work, and is a realisation at last of one of the key aspects of the Griffin Legacy.
“This strong investment in the nation’s capital is very welcome and will positively contribute to economic prosperity and productivity,” Ms Carter concluded.
For further information contact:
Catherine Carter, Executive Director, 02 6248 6902 or 0412 330 079