Transurban Group (ASX:TCL) announced the progress of West Gate Tunnel Project

  • Jul 18, 2018 AEST
  • Team Kalkine
Transurban Group (ASX:TCL) announced the progress of West Gate Tunnel Project

Toll road operator, Transurban Group (ASX:TCL) is speculated to be preparing for a potential equity raising, while it aims to continue to maintain its yield for decent returns to shareholders. Recently, Victorian Government announced the completion of the Monash Freeway Upgrade and it was observed that new lanes were opened on the Monash Freeway in May, two months ahead of schedule. It was significant development that the completion of the project extended the managed motorway system along the M1 corridor to improve traffic flow and safety. The Company’s unique integrated public-private delivery model has leveraged capabilities of both Transurban and the state to deliver the Monash Freeway Upgrade, with early realisation of benefits for the community.

This progress on the West Gate Tunnel Project was followed with planning approvals, in the form of a Planning Scheme Amendment that were passed through the Legislative Council in Victoria and the Company is expecting to complete the project over the timeframes that were announced in December. In fact, Uber is gradually chipping away by taking the advantage of Transurban Group by offering its air-taxi service, around the cities of Sydney and Melbourne as soon as 2020. The Company is planning to release its financials on 7 August 2018. The stock price was marginally up that is by 0.41 per cent and was trading at $11.99 as on 18 July 2018; 03:30 PM AEST.


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