Page 545 - Week 02 - Wednesday, 13 February 2013
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including surveys, social research, public submissions and meetings with industry and community stakeholders; the development of strategic transport modelling to support economic evaluation; economic and financial appraisal; peer review of strategic transport modelling; cost estimation of options; options evaluation; the development of a nation building 2 program for co-contribution from the commonwealth; the release of project update 3 in September last year; further refinements to light rail route alignments to achieve savings in the order of approximately $100 million; and investigations into catenary-free and wireless light rail technology.
This highlights that there have already been a considerable number of projects undertaken on which we will continue to need to work in harmony to facilitate the broader objective of a transit outcome, particularly focusing on land planning and development, public housing provision and affordable housing.
These projects aim not only to provide significant revenue streams to government which support the broader provision of government services but also to transform the territory by stimulating its economy through private and public investment, diversification of employment and residential centres, promotion of new employment sectors, and increased wellbeing of residents.
In July last year the government submitted to Infrastructure Australia a business case in support of a request for a co-contribution matching the territory’s commitment of $15 million to fund further preliminary design works and feasibility assessments. The business case included a preliminary cost-benefit analysis focusing on the traditional and more readily monetised economic costs and benefits that could be expected to accrue. Over the coming weeks, at the invitation of the commonwealth, further revisions of the business case will occur to pick up our latest understanding of the wider economic benefits that are expected to accrue to the territory economy.
Gungahlin to city is the first part of a broader light rail network for Canberra which has the potential to ultimately link town centres and major employment areas as well as potentially servicing Queanbeyan and other parts of the broader region. The light rail network master plan will be undertaken in the next 18 months to identify suitable light rail corridors across Canberra for future expansion. These corridors will be based on the work underpinning the rapid network established in transport for Canberra. Work is also underway within the capital metro project office on a range of preliminary engineering investigations, transport planning, and economic and financing studies to guide the future development of the project.
One of the first projects since the election is the light rail integration study. Tenders to conduct that study are being evaluated and the study is expected to commence shortly. The study will investigate the integration of the light rail system into the broader public transport network and will inform the preliminary design of the project to be undertaken over the next one to two years. There will be opportunities for community input into all aspects of the project as this work proceeds.
Residential development and commercial development along the corridor are critical to support the overall economic benefits of this project. Capital metro will achieve its
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