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The state government will set up its own company to collect tolls from motorists on the $15.8 billion North East Link road project.
New legislation will be introduced in the Victorian Parliament to create the State Tolling Corporation, which will determine the toll price for travelling on the road once it opens.
Minister for Transport Infrastructure Jacinta Allan has announced the Victorian government will establish a state-owned company to collect tolls for the North East Link. CREDIT:JASON SOUTH
The North East Link is the biggest transport project in Victoria's history and the government expects it will carry up to 135,000 vehicles a day.
Transport Infrastructure Minister Jacinta Allan said the road would be partly funded by toll revenue. She said it was the first time a Victorian government had set up a state-owned toll road company.
"We want to see funds that are raised on the North East Link project go back into that project," she said.
But Ms Allen said the lifetime of the tolling arrangement would be a decision for future governments.
The North East Link will connect the Metropolitan Ring Road in Greensborough to the Eastern Freeway in Bulleen. The Eastern Freeway will also be widened to make way for the North East Link, which is set to open in 2027.
The legislation will have to pass through both houses of State Parliament. Ms Allan said the legislation would set out how the state toll company would be governed and how the toll revenue would be invested back into the project.
The toll prices have not yet been set but Ms Allan suggested they would be "comparable" to current tolls on roads such CityLink and EastLink.
This article first appeared on www.theage.com.au
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