INTERLINK ROADS WELCOMES M5 WEST WIDENING FINANCIAL CLOSE

Interlink Roads welcomes the agreement with the NSW Government to widen the M5 South West Motorway. The project is designed to increase capacity, improve traffic management and safety, and relieve traffic congestion.

The project will result in widening the 21km M5 South West Motorway from two to three lanes in each direction between Camden Valley Way, Prestons, and King Georges Road, Beverly Hills, for the benefit of motorists and freight users. Most of the extra lanes will be constructed in the central reservation of the existing motorway. The project will be carried out in stages and the motorway will remain operational throughout the construction period.

The General Manager of Interlink Roads, Rex Wright, said that Interlink’s owners were very pleased with the agreement and looked forward to completing the project. Interlink Roads’ shareholders include, Transurban, Hastings Funds Management, AMP Capital and Industry Funds Management.
“The vast majority of our customers have told us they overwhelmingly support this widening project.

Now that financial close is complete we will focus on project delivery and working constructively with government and stakeholders to minimise the impact on our customers.”

“The M5 South West Motorway is an integral part of the Sydney orbital connecting communities in south west Sydney to the city, Canberra and Melbourne. Its proximity to Sydney Airport and Port Botany makes it a key part of Sydney’s freight network”, Mr Wright said.

“The widening is designed to both ease peak time congestion and prepare for future growth.”

In addition to the third lane capacity, the M5 West Widening will bring benefits to the local community in the form of a reduction in travel times, less congestion on local roads, additional noise walls for the benefit of local residents, plus other environmental and safety benefits.

The widened road will also incorporate a new traffic management and control system with fixed overhead variable message signs and traffic monitoring capabilities.

Employment will peak at approximately 500 workers working on the project at any one time during construction, with thousands more jobs supported by the project.

The $400 million M5 West Widening Project will be primarily funded by Interlink Roads. The NSW Government is contributing $50 million towards the cost of noise walls, drainage and roadworks in the vicinity of King Georges Rd.

The widening will be funded through a combination of an increased concession extension to December 2026 and a phased increase to the truck toll following completion. Project funds will be provided from a combination of shareholder equity and additional debt.

Preliminary works will commence in July 2012. Completion of the project is expected in December
2014.

There are no car toll increases expected during the construction period and the car toll on the M5 South West Motorway will not increase to fund the project.