NSW Premier Mike Baird yesterday said his government was contemplating potential 99-year leases for almost half of its electricity networks so as to fund new and critical projects through the Rebuilding NSW infrastructure program.
The plan, which the Liberals will take to the next state election in March, would help fund a Sydney rapid transit line, including a second harbour rail crossing and the extension of the North West Rail Link.
North and south extensions of WestConnex would also receive funding.
In the regions, it would fund up to $6 billion for new projects and would support both roads and water funds.
Other highlights would include at least $2 billion for a schools and hospitals fund and $500 million for a sports and cultural fund.
“Our roads and rail networks, our schools and hospitals and our water infrastructure have not kept up with our growing population,” Baird said.
“Rebuilding NSW will turbocharge productivity and improve the daily lives of families right across the state.”
Baird said the leases would need to respect strict conditions, including that all proceeds be used to fund new and productive infrastructure and that the transactions bear no negative effect on electricity prices.
