| Rozelle Metro in Doubt Over Funding Backflip |
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Wednesday 20 May 2009 ROZELLE METRO IN DOUBT OVER GOVT FUNDING BACKFLIP “NSW will shoulder on our own the full cost of the CBD Metro”Premier Nathan Rees, (AAP. 13 May 2009) The future of the Rozelle Metro must now be in doubt following the stunning backflip from the State Labor Government over funding for the project, Shadow Treasurer Mike Baird and Shadow Minister for Transport Gladys Berejiklian said today. “Only a week ago Premier Rees was claiming the project is fully funded, trying to put on a brave face after being snubbed by the Federal Government in the Budget,” Mr Baird said. “Now they’ve revealed they want the private sector to pay. They are living in a different world if they think private investors will significantly fund this project,” he said. “There is considerable distrust in the business community that the Rees Labor Government can deliver any major infrastructure project and privately they have a number of concerns about the Rozelle Metro. “It’s tough for businesses and government’s around the world to secure funding in the current economic climate, and with such a poor track record, NSW is not going to be able to get the money,” Mr Baird said. Ms Berejiklian said this financial incompetence now puts the entire project in doubt. “They said they would fund it, now they won’t. Who can trust anything they say? “In just the first six months of this project, the costs have blown out by $1.3 billion before a sod of soil has been turned,” she said. The CBD Metro Invitation for Expressions of Interest for the Integrated Metro Operations released by the Government states that the purpose of the document is to: ‘…invite Registrants to submit Expressions of Interest to enter into long term agreement for the finance, design, construction, operation and maintenance of the Integrated Metro Operations for the CBD Metro…’ (p.4) ‘…the State anticipates requiring Proponents to provide committed equity and a reasonable proportion of debt at the time of submitting their Proposals…’ (p.10) “Mr Rees has the wrong priorities,” Ms Berejiklian said. “As part of our positive plan, the NSW Liberal/Nationals will make building the South West and North West rail a priority,” she said. Media Contact: Wendy Black 0418 532 534
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