ACT $288 Majura Parkway project to kick-off this year
Residential dwellers in the country's capital will benefit from ACT's largest single infrastructure investment - the $288 Majura Parkway project - with construction set to begin on the development later this year.
Federal minister for infrastructure and transport Anthony Albanese said the project is moving ahead after the building contract was awarded to a construction company this week (September 13).
The multimillion-dollar road project may attract property investment into the area, with employment opportunities generated from the development likely to increase demand on the local real estate sector.
"This project is great news for the ACT economy, for local jobs and businesses," ACT chief minister Katy Gallagher said.
Once completed in 2016, Canberrans will benefit from the infrastructure development, which will link the Federal Highway to the Monaro Highway - reducing congestions on roads in the area and improving access to the Majura Valley.
"The completed Majura Parkway will also play a significant role in improving the main national and regional freight route and the ACT will also benefit from additional capacity on its road network," Ms Gallagher added.
Preliminary works are already underway at the site, with the sections of pine plantation being cleared in anticipation of the start of the construction later this year.