2022 Corporate Report

Corporate Report for the year ended 30 June 2022

Introduction and overview

Business performance

Governance and risk

Directors’ report

Remuneration report

Financial statements

Sustainability supplement

Security holder information

Project update Melbourne

westgatetunnelproject.vic.gov.au West Gate Tunnel Project

each contributing $1.7 billion. The D&C subcontractor withdrew its claim for additional construction costs (see B2 on page 128 for more information). The tunnels connect to a new bridge and ramps being built over the Maribyrnong River—the first steel support beams were lifted into place in May 2022. The bridge will connect the new tunnels with an elevated roadway above Footscray Road, where a state-of-the-art launching gantry has so far enabled the construction of more than 700 metres of the new two-kilometre, six-lane elevated road that will connect to CityLink, and improve links between the city centre and Melbourne’s northern and western suburbs. In collaboration with our partners, we engaged with 4,000 community members this financial year to discuss both construction impacts and project benefits. With children back in classrooms in 2022, we also visited 22 schools in Melbourne’s western suburbs as part of our West Gate Kids Schools Engagement Program, conducting hands-on activities to help kids learn about how infrastructure is built.

Once completed, the West Gate Tunnel Project will deliver a vital alternative to the heavily congested West Gate Bridge and provide new links to Melbourne’s port, CityLink and the city. The project includes 18 kilometres of new lanes on the West Gate Freeway, widening from eight to 12 lanes and easing traffic congestion for the 200,000 motorists who use it daily. More than 70% of widening works are now complete and 80% of the project’s new and improved noise walls have been installed. The project is currently completing its IS ‘Design’ rating. Two tunnel boring machines—the biggest of their kind in the southern hemisphere— are now digging the twin tunnels beneath Melbourne’s inner west. The tunnels are expected to remove around 9,000 trucks from local roads a day by providing a direct route from the port to the industrial areas of Melbourne’s west. Tunnelling began in early 2022, after Transurban, the Victorian Government and the design and construction (D&C) subcontractor reached an agreement on revised project delivery terms, including a new completion date of late 2025. As part of the agreement, the D&C contract total cost was increased by $3.4 billion, with Transurban and the Victorian Government

33M worker hours

~$11B estimated

economic benefits for the State of Victoria 1

~6,000 construction jobs created, including up to 400 regional jobs

Up to 20 mins expected travel-time savings per trip 2

>14km new and upgraded walking and cycling paths

~9ha new parks and wetlands

 See how this project fits into our portfolio (pages 16 to 17 )

1 Victoria State

Government: Western Distributor Business Case (2015) 2 Victorian Government West Gate Tunnel Project website


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