QUEENSLAND'S first Market-Led Proposal — the $512 million Logan Motorway Enhancement Project put forward by Transurban Queensland — has been given the green light by the State Government.
Treasurer Curtis Pitt said the project would significantly upgrade the Logan and Gateway Extension motorways, improve road safety and travel times, as well as create jobs and stimulate the economy.
"The Logan Motorway Enhancement Project will support about 1,300 jobs over its two-and-a-half year construction period, as well as deliver increased productivity and efficiency in South East Queensland's road freight transport industry.
"The project has been examined through the staged assessment process of the state government's Market-Led Proposals initiative that offers private sector proponents the chance to get their ideas for new projects or services off the ground faster."
Mr Pitt said the Logan Motorway project was one of four market-led proposals (MLPs) worth more than $700 million in total that have progressed to stage 2 of the MLP process and the first to proceed to final binding contract stage. Other MLPs at stage 2 include:
- Port of Brisbane's proposal to establish a new international cruise ship terminal;
- Plans for a Queensland Aquarium and Maritime Museum incorporating a new aquarium and redevelopment of the existing Maritime Museum at South Bank; and
- RACQ's proposal to transform the aging Mt Cotton Driver Training Centre into a driving centre of excellence and a world-class innovation hub for government, education and industry groups to research, design and test new vehicle and road safety technologies.
Minister for Main Roads and Road Safety, Mark Bailey, said the final concept design for the motorway upgrades reflected feedback from the community, road users and the trucking industry.
"They all want improved efficiency, travel times, safety, and connectivity that the Logan Motorway Enhancement Project delivers," Mr Bailey said.
"The Logan Motorway Enhancement Project now delivers greater scope and value for motorists as a result of working with stakeholders and locals."
Transurban Queensland Group General Manager, Wesley Ballantine said the company was proud to present the first market-led proposal under the Queensland Government's innovative framework.
"Our partnership with the Queensland Government throughout the detailed proposal phase has ensured we achieve the best possible outcomes for motorists, industry and the wider community," he said.
CPB Contractors has been selected as the preferred contractor to design and construct the project.