Plan under way to fund Badgerys Creek
THE federal government has finalised funding contingency plans to build Sydney’s $6 billion second airport, as speculation builds that Sydney Airport Corporation is unlikely to take up the May 8 deadline offer to build and operate Badgerys Creek.
The Weekend Australian reported the government has modelled several funding options, including one based on the Snowy Mountains Hydro-Electric Scheme, in which the government would become the principal shareholder in a company set up to operate the airport.
An off-budget NBN Costyle model is also on the table.
Sources have confirmed that the government is preparing for an almost immediate start to construction, with a timetable of next year for major works to begin.
Sydney Airport Corporation has argued that Badgerys Creek is not commercially viable without significant government assistance.
The government has refused to provide any funding for a private-sector operation, arguing that it is offering a “once-in-a-generation” deal for a 99-year lease on a greenfield site in western Sydney.
Artist impression of Badgerys Creek Airport.