The NSW Government announced its plan on 12 May 2017 to help fund the final stage of WestConnex - the critical M4-M5 Link connecting two of Sydney’s busiest motorways - by the sale of a majority stake in the company delivering Australia’s largest transport infrastructure project.
The Government confirmed on 16 August 2017 it would launch the competitive trade sale of a 51 per cent stake in Sydney Motorway Corporation (SMC) later this year.
The Government on 22 September 2017 called for qualified parties to register their interest in the sale.
The sale is targeted to close in mid-2018.
SMC was established by the State to finance WestConnex by incorporating an initial investment by the State alongside Commonwealth and private sector debt supported by toll revenue.
The sale forms part of the Government’s core strategy to build budget strength while delivering a once-in-a-generation infrastructure pipeline that creates jobs and drives economic growth.