Forrest Highway opens to traffic

The Kwinana Freeway extension and Forrest Highway has officially opened three months ahead of schedule.

The Minister for Immigration and Citizenship and Senator for Western Australia, Chris Evans, said the new 70.5 kilometre road was one of the largest road infrastructure projects ever undertaken in Western Australia.

Representing the Federal Government at today’s opening ceremony, Senator Evans said the opening marked the culmination of more than five years of work, including almost three years of construction, to deliver this vital piece of infrastructure.

‘It’s a great day for the south-west,’ Senator Evans said at the opening.

‘In particular, I congratulate the Southern Gateway Alliance, as well as the 3000 workers and more than 1000 local suppliers and subcontractors involved in building this road, on a job well done.

‘I would also like to acknowledge the former Federal and State governments for getting the work started on this vital piece of infrastructure for the people of Western Australia.

‘For the first time ever, motorists will be able to travel on a continuous dual carriageway from Perth to the fast-growing communities in the state’s south-west, bypassing the heavily populated areas of Mandurah and Dawesville.

‘The new road will provide better driving conditions and cut travel times by up to 30 minutes for the 30 000 motorists expected to use it each day. It will also take the pressure off other routes, including the Old Coast Road and South Western Highway.

‘Over the longer term, it will promote economic development across the region – which in turn will create even more job opportunities within local communities.’

The $705 million project was jointly funded by the Federal ($330 million) and Western Australian ($375 million) governments.

The Rudd Labor Government is investing $3.4 billion over six years to modernise and maintain the State’s road and rail infrastructure – an investment that will deliver significant benefits for both the Western Australian and national economies.

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$3billion proposal to upgrade Perth Airport

Perth Airport is set for a $3 billion upgrade over the next 10 years to transform it into a transportation showpiece.    
The capital works program, from private and government sources, is the biggest ever for the airport.

In line there is  a $1 billion in terminal facilities, $525 million for road upgrades and $1.4 billion in hotels and multi-storey carparks. 
   
Terminal WA is set to be opened in 2011, and an integrated international and domestic terminal on the site of the existing international terminal to be phased in over the next seven years. 
  

 Perth Airport chief executive Brad Geatches said yesterday that the airport would become one of the best in the Asia-Pacific region. 
  

The master plan, which is available for public comment until August 10, outlines the airport’s plans through to 2019 and brings development forward 10 years.  
   
The  terminal upgrades, a new ring road and improvements to key intersections will be started over the next 12 months.

The escalators will be on the left of the building and will take departing passengers and the public upstairs. The existing facilities will be for arrivals only. 
   
Major funding has also been committed to upgrade the road network around the airport.

The Budget included more than $115 million in projected major intersection works along the Tonkin Highway interfacing with Perth Airport.

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Australian share market opens higher

THE share market has opened marginally stronger the morning after the federal budget was handed down, and following a mixed lead from Wall Street.
At 10.15am (AEST), the benchmark S&P/ASX200 was up 12.1 points, or 0.31 per cent, at 3889.3, while the broader All Ordinaries gained 8.7 points, or 0.23 per cent, to 3872.3.

The four major banks were mostly higher at the open.

ANZ gained 4cents to $16.01, NAB was up 14 cents at $22.00 and Westpac was up 10 cents at $20.48.

The Commonwealth Bank, which reported cash earnings for the March quarter of about $1.15 billion, generating a cash return on equity of over 15 per cent, was down 20 cents at $36.40.

Resources weren’t as lucky, opening lower in morning trade.

Mining giant BHP was down five cents at $34.26, while rival Rio Tinto lost 4.41 per cent to $65.46.

Wall Street wobbled to a mixed finish on Tuesday as investors paused to assess gains from a long rally and mulled the new efforts to raise capital by banks and other firms.

The markets also digested better-than-expected data on the US trade deficit and reassuring comments from Federal Reserve chairman, Ben Bernanke, about the health of the banking system.

The Dow Jones Industrial Average was up 50.34 points, or 0.60 per cent, to settle at 8,469.11.
The tech-dominated Nasdaq dropped 15.32 points, or 0.88 per cent, to 1715.92 while the broad-market Standard & Poor’s 500 index lost 0.89 point, or 0.1 per cent, to settle at 908.35.

On the Sydney Futures Exchange, the June share price index contract was trading 17 points higher at 3885 on volume of 4900 contracts.
www.news.com.au

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