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F6 Link - $3 Billion In Benefits


F6 Link - $3 Billion In Benefits

Author: NRMA MediaDate: 05 February 2008

Completing the F6 Motorway would deliver a net economic benefit of almost $3 billion to NSW with the Illawarra being a major beneficiary, according to new research conducted by NRMA Motoring & Services.

The economic impact study, which looked at completing the F6 from St Peters to Loftus with a tunnelled section between Port Hacking Road at Sylvania and Loftus, would cost about $2.2 billion to build and maintain and deliver immediate benefits of almost $1.1 billion.

The NRMA report found that the long-term economic benefits after costs are taken into consideration would reach almost $3 billion by 2031, highlighting the economic benefits the new highway would have for the Illawarra through growth in jobs and local industries.

NRMA Deputy President, Michael Tynan, said completing the F6 Motorway was critical.

"Completing the F6 would be good for Sydney's road network, traffic congestion, road safety, the environment and motorists," Mr Tynan said.

"The NRMA's report proves the motorway would also be good for the economy - to the tune of $3 billion and the Illawarra economy in particular would benefit from this project.

"Aside from the immediate benefit to come from employment opportunities, local industries will benefit by having a Motorway that links Illawarra businesses to Sydney."

Motorists who travel on motorways use up to 40 per cent less fuel.

The NRMA report found that the $2.2 billion tunnelled motorway would deliver immediate economic benefits by:

  • Cutting vehicle operating costs, including petrol consumption ($559 million)
  • Reducing travel times for motorists ($475 million)
  • Cutting the costs associated with road crashes ($22 million)

The net economic benefit of $3 billion would be achieved through greater delivery of goods and services across Australia (particularly from Port Kembla and Port Botany), new industries that will grow in the area once the motorway is built and job growth.

A travel time survey conducted by the NRMA in 2005 found that travel times for residents living in Wollongong to Sydney city would be cut from 70 minutes to 55 minutes.

"Motorists need their politicians in Sydney and Canberra to show leadership when tackling the problem of Sydney's outdated road network," Mr Tynan said.

"The NRMA's plan for the future of the F6 makes good economic and motoring sense. Our Members who are forced to deal with crippling traffic congestion along the Princes Highway every day will attest to what happens when these decisions are delayed."

The NRMA report also assessed the cost-benefit ratio for completing the F6 from Gymea to Loftus without the tunnel. While the total cost would be $1.1 billion the long-term economic benefit would only be $2.5 billion and traffic would still be forced into residential neighbourhoods between Gymea and St Peters.

Download the F6 Ecomomic Report (PDF 1MB/14 pages)

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