The purchase of the company that owns the light rail and monorail systems is also intended to enable the efficient delivery of future light rail extensions.聽
鈥淭his is good news for Sydney - it delivers certainty for business wanting to invest in the Darling Harbour precinct and allows the efficient development of the light rail network,鈥� said NSW premier Barry O鈥橣arrell. 鈥淭he monorail is not integrated with Sydney鈥檚 wider public transport network and has never been truly embraced by the community.
鈥淲hile it has been a controversial part of Sydney鈥檚 history for more than 20 years, the monorail is reaching the end of its economic life and the NSW Government cannot justify costly upgrades like the purchase of new vehicles required to keep it running.
鈥淭his decision paves the way for the development of a world class Sydney International Convention, Exhibition and Entertainment Precinct as the NSW Government gets on with the job of making NSW number one again.鈥�
Under the deal, the NSW Government has purchased Metro Transport Sydney (MTS) for AU$19.8m (拢13m) and 鈥� for now 鈥� the operation of light rail and monorail services will continue as usual as per the contract with Veolia.
The removal of the monorail will occur as soon as feasible after obtaining the necessary approvals and consulting with stakeholders.
Minister for transport Gladys Berejiklian said the simplified contractual arrangements would make it easier for the government to expand the light rail network in the future. 鈥淭he NSW Government is committed to expanding light rail and extending the Inner West Light Rail to Dulwich Hill,鈥� she said. 鈥淭his purchase gives certainty to transport planners and will ensure light rail is fully integrated with the wider public transport network.
鈥淭he Light Rail Strategic Plan 鈥� examining the feasibility of extending the light rail network through Sydney鈥檚 CBD, to the University of Sydney and the University of NSW 鈥� will be completed in the middle of this year, and the government looks forward to examining its findings.鈥�
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