Australian Prime Minister Malcolm Turnbull has confirmed that Western Sydney Airport, commonly referred to as Badgerys Creek Airport, will be built by the state after more than 30 years of political negotiations.
The decision was made after Sydney Airport Group (SAG), the owner of Sydney (Kingsford Smith) Airport, exercised its ‘right of first refusal’ and passed on the opportunity to build the airport. According to ABC News, SAG cited the risks associated with the return on investment as the main reason for declining the state’s offer.
Addressing the issue, a joint statement released between the PM and Paul Fletcher, Minister for Urban Infrastructure, said, “The government has worked carefully to meet our obligations and we have been planning for either contingency – acceptance or rejection by SAG. We are well positioned to move forward on terms that are consistent with the terms of the Notice of Intention.
“The airport will be a major catalyst for jobs and economic growth in Western Sydney, injecting more than A$1.9bn (US$1.4bn) into the economy during the construction phase alone. It is expected to deliver 9,000 new jobs to Western Sydney by the early 2030s, and 60,000 in the long-term.”
The Treasurer, Scott Morrison, will announce in the budget next week details of the government’s plan to build Western Sydney Airport.