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On 3 July 2015, Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss announced Nexus as the preferred proponent to finance, build, operate and maintain the $1.6 billion Toowoomba Second Range Crossing in a 25 year public-private partnership.
Now, with Federal Government committing funds to the project, the Queensland Government can deliver this much-needed piece of infrastructure.
It is estimated the project will take up to three years to construct and will provide up to 1,800 jobs throughout the construction phase.
Funded on an 80:20 basis by the Australian and Queensland Governments, the Toowoomba Second Range Crossing will cost around $1.6 billion to build.
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The Australian Government’s funding commitment is the largest single contribution to a Queensland road project since Federation. It is a highly complex project and one of Queensland’s highest priority road infrastructure projects.
With an estimated construction period of around three years, the contract will be structured as an availability-based public-private partnership. Using this model, the State Government will provide upfront Government funding contributions during the construction stage of the project and ongoing service payments over the 25 year operation and maintenance stage, which will be dependent on performance.
At its completion, the Toowoomba Second Range Crossing will divert almost 80 per cent of heavy and super heavy commercial vehicles away from the existing range crossing and cut travel time across the range by up to 40 minutes for heavy vehicles.
It is also anticipated that, through improved freight movement, the crossing will increase economic activity in the region by $2.4 billion over 30 years. Local residents will also benefit from reduced noise, improved safety and improved local road conditions as traffic is removed from the main thoroughfare through town.