Plan un­der way to fund Badgerys Creek

Penrith Press - - NEWS -

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.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.