Key Auckland transport projects
have received a boost under the Budget 2014 through a $375
million interest-free loan to the NZTA.
In his Budget speech, Finance Minister Bill English said the
loan would accelerate $815 million worth of Auckland
Transport Minister Gerry Brownlee said the projects would
address congestion the country's largest city, improve access
to Auckland International Airport and capitalise on the
benefits of major roading projects already under way -
including the Western Ring Route.
"No Government has invested so heavily in transport
infrastructure across all transport modes," he said.
"But with freight demand forecast to grow by around 50 per
cent across the country in the next 30 years, and by almost
80 per cent in Auckland, and with a growing population, we've
decided to bring a number of important projects forward.
"Some of these projects were up to a decade from starting,
but we've decided they simply must begin sooner to give
Auckland the best opportunity of moving people and goods
around the region."
The $375 million will be transferred to NZTA as an
interest-free loan, to be repaid to the Crown by funding
currently allocated to these projects in the National Land
Transport Fund up to 2026/27, Mr Brownlee said.
The Government has also announced today that $32.7 million of
new operating funding will be allocated over the next four
years in the Budget to cover the debt financing cost to the
Crown of the interest-free loan.
Auckland transport package:
* Delivery of projects on the Northern Corridor, Southern
Corridor and State Highway 20A by 2019/20 ($800 million).
* Further investigations to determine the preferred scope of
the East-West Link over 2014/15 ($10 million).
* Progression of the Panmure to Pakuranga phase of the
Auckland Manukau Eastern Transport Initiative (AMETI) over
2014/15 ($5 million).
Northern corridor motorway projects proposed for
* Three-laning State Highway 1 northbound Constellation to
* State Highway 1/Greville Road Interchange improvements
* State Highway 1 to State Highway 18 motorway-to-motorway
* Benefit-to-cost ratio: 3.8
* Proposed construction period: 2013/14 2019/20
* Expected cost: $450 million
Southern corridor motorway projects proposed for
* Three-laning State Highway 1 southbound Hill Road to
* Six-laning State Highway 1 Takanini to Papakura
* Takanini northbound onramp improvements
* Takanini Interchange upgrade
* Four-laning State Highway 1 southbound, State Highway 20 to
* Benefit-to-cost ratio: 6.8
* Proposed construction period: 2014/15 2016/17
* Expected cost: $210 million
State Highway 20A project:
* Upgrades State Highway 20A to a motorway standard
* Benefit-to-cost ratio: 1.7
* Proposed construction period: 2015/16 2017/18
* Expected cost: $140 million