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Premier Nathan Rees on Thursday announced that the vast bulk of proceeds from asset sales would go to funding new transport projects.
Mr Rees said that the billions to be unlocked from the Government’s energy reforms will be ploughed back into transport infrastructure for NSW.
“We will invest the lion’s share of funds to transport projects across the State,” Mr Rees said.
“This will allow us to meet the Commonwealth more than half way in any future funding agreements.”
Mr Rees said that the details will be announced once the Transport Blueprint is concluded.
“The Transport Blueprint will include credible mechanisms to lock-in the funding and to lock-in the projects,” Mr Rees said.
“We will promise only what we can deliver and deliver what we promise.”
Mr Rees said that the funding will build on a number of projects already delivered or underway, including:
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The Epping to Chatswood rail line which was opened in February 2009;
- Stage 1 of the South West rail line which is underway;
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The Cronulla Line duplication which is almost complete;
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7,000 new commuter carpaking spaces are well advanced; and
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300 new buses, to service our Strategic Bus Corridors and our Transitways, with more than 130 already on the road in service. |
