Life&Culture

Sydney Airport Holdings declines to develop city's 2nd major airport

Sydney Airport Holdings declines to develop city's 2nd major airport

"(The new airport) is expected to deliver 9,000 new jobs to western Sydney by the early 2030s", he said, adding it will inject over 1.43bn "during the construction phase alone".

Sydney Airport Holdings on Tuesday said it would not take up its rights to develop a A$5 billion (S$5.26 billion) second major airport in the city's west, meaning it could lose its monopoly status within a decade.

A week after treasurer Scott Morrison attempted to divide government borrowing into "good" and "bad" debt, putting infrastructure in the good category, prime minister Malcolm Turnbull said details on the 2nd airport at Badgerys Creek in western Sydney will be announced by the Treasurer in the Budget next week.

Western Sydney Regional Organisation of Councils president Stephen Bali said the government should unveil its plan for the airport: "Without a plan we are flying blind".

When the airport is fully operational in 2026, it's expected to receive 10 million passengers per year.

"Despite the opportunities that Western Sydney Airport will present, the risks associated with its development and operation are considerable and endure for many decades without commensurate returns for our investors".

Germany's Merkel arrives in Russian Federation for talks with Putin
The White House statement said Trump and Putin also "spoke about how best to resolve the very risky situation in North Korea". The Kremlin statement made no mention of safe zones, and Putin's spokesman said they had not been discussed in detail.


Sydney Airport CEO Kerrie Mather: Company won't build Badgerys Creek. In light of this, government sources have confirmed they're likely to establish something similar to the National Broadband Network, to pave the way for a Commonwealth airport built with borrowed money.

However, a complete second airport is still 10 years away, and demand from local and global travellers is expected to increase still.

"WSROC wants to see a real commitment - a contract with the people of western Sydney that demonstrates their quality of life is of equal importance to the commercial interests of the new airport", Cr Bali said.

"After taking into consideration the feedback from the recent market engagement process and investors, and the outcomes of its own evaluation, Sydney Airport determined that the terms of the NOI do not meet its investment criteria", the group said.

"In due course you would expect this infrastructure asset to return to private ownership", Infrastructure Minister Paul Fletcher told Sky News television.


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