Re: [NSW]SRA billed $15m for airport link's shortfalls

[thebaron@nospam.ozemail.com.au]

Which is why we the taxpayer should have paid for it in the first place.

neumannc <neumannc@ozemail.com.au> wrote:
> Maurie Daly wrote:
>> 
>> > The Airport Line is a privately funded project ,costing $900 M.
>> The fare will be based on getting a fair commercial return on the
>> capital invested,not on what other forms of transport cost.
>> If the Company has got its passenger estimates grossly wrong then they
>> will simply go broke,unless there are contractual obligations on the
>> part of the Govt to bail them out.
>> Its also worth noting that projects of this size are usually financed
>> by overseae institutions and that the loans are written in $USD,so
>> that the low $AUD will if anything drive the fares up,not down.
>> 
> The Airport Line was JOINTLY funded by the private sector and the NSW
> Government.  The taxpayer contribution was well over $600M.  If the
> company got its passenger estimates wrong their lawyers will ensure that
> the taxpayer bails them out, just like the Harbour Tunnel!

> Chris