The state government of Victoria is set to construct the North East Link, the missing link in Melbourne’s road network that will complete the Metropolitan Ring Road in Australia.
Estimated to cost up to AUD10bn ($7.4bn), the project will be financed by a mix of government contributions and tolls, with final funding arrangements determined as part of the detailed planning process.
Upon completion, the project is expected to reduce travel time on congested roads in the north, south and east of Melbourne.
Victoria premier Daniel Andrews said: “This is it — the missing link that will connect our city — and we will get it done.
“When we build the missing link that completes the ring road, you’ll be able to drive from Ringwood to Tullamarine without stopping at a single traffic light.”
The project is anticipated to take about 10 years to complete and create over 5,000 direct jobs.
It will be kick-started with AUD35M ($26M) for the business case development, with consultation and route selection set to be completed by 2018. Furthermore, planning approval and tender processes are set to begin in 2018.
The labour government will not sign contracts before the election — giving the Victorian community their say on the project without binding future governments.
* Data provided by Timetric's Construction Intelligence Center.