)
The Queensland state government has backed the next stage of the Gold Coast light rail project with a $351 million commitment.
The next stage of the development will see the G:link extended by seven kilometres from Broadbeach South to Burleigh Heads and include eight new stations.
The extension project is expected to create 760 new jobs during construction.
Premier Annastacia Palaszczuk says the state government still requires federal support for the project to be fully greenlit.
"The Reserve Bank of Australia has called on the Morrison Government to boost infrastructure spending to support the national economy," says Palaszczuk.
"$709 million is needed to build Stage 3A. What I've announced today is nearly half that amount."
"Currently the $112 million (or 16 per cent) the Federal Government has committed falls well short of a fair funding agreement."
"What we're asking the Morrison Government to do is commit $269 million to the project which is the same proportion funding arrangement (38 per cent) they invested in Stage 1."
If the federal government does dedicate the extra $269 as soon as possible the Queensland government says there is the possibility of trams making their way to Burleigh Heads by 2023.
Since the G:link launched five years ago it has transported 42 million passengers, with more than one million trips being taken during the Commonwealth Games.
Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
Get our daily business news
Sign up to our free email news updates.
)
)
)
)
)
