Transurban won’t commit to West Gate Tunnel start
Key Points
- Revenue ($m) 1423 down 22pc from year-earlier 1821
- Pre-tax profit ($m) -539 v 4
- Net profit ($m) -448 v 80
- Interim dividend 15c v 31c, payable on February 16
Transurban cannot commit to a date for opening its troubled $6.7 billion West Gate Tunnel because there was too much uncertainty over how long it would take to find a site to handle contaminated soil, chief executive Scott Charlton said after reporting a $448 million interim net loss.
The tollroad group, which was supposed to open the Melbourne tunnel in 2022, on Thursday said it would not even meet its revised delivery date of 2023 after delays in finding soil disposal sites and getting environmental approvals.
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