$4 Billion Rail Tunnel Back on Target
$4billion Rail Tunnel back on target (17/03/06).
Premier Bracks is looking to spend billions to make the wealthy suburbs more attractive (delivering millions in land value increases to neighbouring wealthy political benefactors no doubt – we wonder which donor will receive the contracts?).
Why not use the Japanese model where the developer is also the constructor for the underground tunnel? The entire project is funded from the sale of the new shops & residential property. Such profits exist in land and property that the developer/ constructor could still make double what he could in the sharemarket with little risk.
Read Fred Harrison’s “Wheels of Fortune” to get the dirt on how many S-E Asian countries fund their transport infrastructure.