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Victorians are paying $2.8m a week for a road yet to be finished

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Victorians are paying $2.8 million a week in interest on the unfinished North East Link road project, the cost of which has blown out to $26 billion, annual reports and documents obtained under freedom of information show.

The North East Link State Tolling Corporation, a public agency established to finance, operate and collect tolls on the road, which is expected to open in 2028, has incurred $3.9 billion in debt since March 2021. It also paid $145.3 million in interest during the last financial year.

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Gus McCubbing is a journalist at the Australian Financial Review in Melbourne. Connect with Gus on Twitter. Email Gus at gus.mccubbing@afr.com
Patrick Durkin is Melbourne bureau chief and BOSS deputy editor. He writes on news, business and leadership. Connect with Patrick on Twitter. Email Patrick at pdurkin@afr.com

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    Original URL: https://www.afr.com/politics/federal/victorians-are-paying-2-8m-a-week-for-a-road-yet-to-be-built-20241125-p5kt9f