News: Transurban prepares for $850M CityLink upgrade

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    Transurban Group (ASX:TCL) has inked an $850 million deal with the Victorian government to deliver the CityLink Tulla Widening project in Melbourne.
     
    The toll road owner and operator says the project will add additional lanes to the Tullamarine Freeway from Melrose Drive in the north, along CityLink to the Bolte Bridge.
     
    Additional lanes will also be added to the West Gate Freeway eastbound between the Bolte Bridge and Power Street.
     
    CEO Scott Charlton says the extra lane capacity will support the rapidly growing suburbs in Melbourne’s north and west, and, improve travel time reliability for the 150,000 vehicles using CityLink’s western link every day. 
     
    Works are expected to start in October 2015 with the CityLink Tulla widening of the freeway slated for completion in early 2018 and interface works shortly after. 
     
    Transurban Group boosted its net profit by 44.5 per cent to $252 million in the 2014 financial year.
 
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