Re: Latest news on Speedrail

[dbromage@fang.omni.com.au (David Bromage)]

Peter Berrett (pberrett@optushome.com.au) wrote:
> I am curious to know where the VFT is at in terms of approval. Last I heard
> Speedrail had been selected as the preferred tenderer but nothing further.

The proving up phase was completed in December and the final submission to
Government made in February. It's now up to the feds to make a decision,
which they keep postponing.

> Has the Government agreed to shell out the $$$ for the project? Is it
> underway? Is it just pie in the sky? Have any contracts been signed?

There is a common misconception that the government has to "subsidise" the
project. Remember the criteria was "no net cost to government" which means
they are not opposed to putting in money, such as in the form of tax
concessions or in kind contributions (such as the $600 million in kind
contribution from RAC), provided they get equal or more in return.

Cheers
David