Transurban, an Australian manager of highways and developer of urban toll roads, saw toll revenue for the December 2014 quarter increase by more than 63% to US$304 million compared to the same period last year.
For the half-year ended December 2014, toll revenue rose by 63.7% to nearly $602 million, compared to the corresponding period in 2013, a company statement said.
Transurban, established in 1966 and based in Melbourne, owns CityLink in Melbourne, which connects three of the city's major freeways
For the half-year ended December 2014, toll revenue rose by 63.7% to nearly $602 million, compared to the corresponding period in 2013, a company statement said.
Transurban, established in 1966 and based in Melbourne, owns CityLink in Melbourne, which connects three of the city's major freeways. It also has stakes in five toll motorways in Sydney and in five of the six toll motorways in Brisbane.
The calculations do not include Queensland Motorways assets and concessions, which were acquired in July last year. Transurban has a 62.5% interest in Queensland Motorways.
Strong traffic growth occurred during the quarter, the company statement noted. This included 3.2% growth on CityLink compared to the same period last year. “This is the highest percentage growth for a quarter observed on CityLink since the June 2013 quarter.”
The north-west corridor of the Sydney orbital network continues to provide traffic growth, “reflecting the benefits being delivered by the M2 upgrade”. This project was completed in August 2013. Average traffic growth across Westlink M7, Hills M2 and Lane Cove Tunnel was 9% for the quarter.
Last October, Transurban reached agreement with the Victoria state government in Melbourne to deliver the CityLink Tulla Widening. The project is a major upgrade to add extra lanes in each direction between the Bolte Bridge and Tullamarine Freeway to Melrose Drive, Essendon Fields, as well as extra lanes on the Bolte Bridge and an eastbound section of the West Gate Freeway between Bolte Bridge and Power Street.
Integrated engineering firm
In the US state of Virginia, Transurban opened the 95 Express Lanes ahead of time and budget. “This has enhanced Transurban’s network position of Express Lanes in northern Virginia and brings total lane kilometres of that network to 199.” Early completion of the roadway improvements from the 95 Express Lanes allowed the project to be opened to motorists on 14 December, after a two and a half year construction period. Tolling stared on 29 December.
