The budget announcement of a further NZ$500m follows a decision earlier this month by Auckland Council to approve its NZ$500m share of additional funding (link opens in new tab).
The Crown and Auckland Council are both sponsors of the project. Their joint company, City Rail Link Ltd (CRL Ltd), sought endorsement for additional funding from its sponsors when it released details in April of a revised cost envelope for the project of NZ$4.419bn 鈥� a聽 NZ$1bn increase on a NZ$3.4bn estimate made in 2014.聽聽 The increase followed a review of project costs that included changes to the project鈥檚 scope and a competitive construction environment.聽
鈥淭oday鈥檚 Budget news and Council鈥檚 earlier decision are big and positive steps forward, and our sponsors鈥� confidence clears the way for us to get cracking on delivering a project that will have a huge impact on Aucklanders,鈥� said CRL Ltd chief executive Dr Sean Sweeney.聽
In addition to construction already under way at two inner city sites 鈥� Lower Queen Street/Britomart and lower Albert Street 鈥� work has started on an early works contract relating to design, consents, permitting and mobilisation ahead of the project鈥檚 main C3 contract to complete the tunnels and build the underground stations.聽聽聽聽聽
CRL Ltd will endorse the Link Alliance as its confirmed bidder for C3 next month before signing a project alliance agreement (PAA) in July.聽 The main works on C3 are planned to start in early 2020.聽
The City Rail Link project is New Zealand鈥檚 largest transport infrastructure project and will be completed in 2024.聽 It includes construction of twin 3.45km-long tunnels up to 42m below central Auckland including two new underground stations, improvements to Mt Eden station, and converting the existing Britomart station from a dead-end to a through station.聽
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