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Capital Region Development full speed ahead with speedrail Decision



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CAPITAL REGION DEVELOPMENT FULL SPEED AHEAD W... Page 1 o £â– £â–  !

Other Media Statements [Minister for Regional Development. Territories and Local Government] [Minister for Transport and Regional Development]

[Michael Ronaldson, Parliamentary Secretary] [Departmental]

M e d i a

R e l e a s eTHE HON ALEX SC Minister for Regional Development, Territories and L S75/98 4 August 1998

CAPITAL REGION DEVELOPMENT FULL SPEED AHEAD WITH SPEEDRAIL DECISION

Federal Minister for Regional Development, Territories and Local Government, Alex Somlyay said today the announcement by the Prime Minister o f Speedrail as the successful consortium to build the Sydney-Canberra Very High Speed Train (VHST) is the best possible news for the Canberra region and the ACT.

He said that under a local industry development plan, 80% o f the construction inputs would be sourced within Australia. The Speedrail project will maximise opportunities for local industry participation and development during the constmction, operation and maintenance phases.

"This $3.5 billion project will deliver fifteen thousand new jobs during the construction due to commence in the Year 2000.

"The project is expected to stimulate new businesses and residential expansion along the rail corridor to be developed between Sydney and Canberra.

"Tourism will receive a very strong boost from this initiative. The VHST link is sure to lift the profile o f Canberra and the Capital Region. The new link is also sure to improve accessibility to other inland attractions adjacent to Canberra," said M r Somlyay.

He said he warmly congratulated the supportive role o f the ACT Government and Chief Minister, Kate Camel 1 in joining fully in the next stage o f the VHST evaluation process.

"I know the Camell Government will facilitate the maximum involvement by ACT business and tourism operators with the VHST project," said M r Somlyay.

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Further information: Graeme Hallet (Minister's Office) 02-6277 7060

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