The government will now work with Transurban to develop a more detailed proposal for the possible F3 to M2 link underneath Pennant Hills Road.
“Let me make it clear this proposal is in its very early stages,” said roads minister Duncan Gay. “But it is encouraging that the private sector is interested in investing in Sydney’s motorways and has come to government with a proposal.
“As part of the normal process for unsolicited private sector proposals, we have set up a cross-agency assessment committee to investigate its merits.”
There are potentially three stages to the assessment, including strategic assessment of the initial submission, development of a detailed proposal and negotiation of a final binding offer.
“Following the initial consideration of the proposal, it has been decided to progress to Stage 2,” said Gay. “In the next six months the committee will work with Transurban to complete Stage 2 of the assessment. This requires the proponent and government to work cooperatively in the development and assessment of a detailed proposal, from which it can be determined whether the parties want to proceed to negotiate a final binding offer.”
At this stage, there is no guarantee or commitment from either government or Transurban that it will lead to delivery of a project. “We need to be assured any proposal like this offers not only value for money for NSW taxpayers but that it also meets the NSW government’s long term transport objectives,” said Gay.