November 23, 2018

Road and Rail Plans

Victoria's debt level to double under Labor road and rail plans

Today Victorian Labor pledged to kick-start work on Melbourne's $15.8 billion North East Link toll road on day-one back in office.
The 26km road, which will connect the M80 ring road at Greensborough with the Eastern Freeway, was first proposed by Labor in 2008.
Premier Daniel Andrews recommitted to the project in 2016 and has already put more than $200 million into planning and design.
This morning he promised to call for construction tenders on Monday if successful at the ballot box.
"The tender process will begin on Monday and I know that there will be significant interest from construction companies both here and abroad to get on and build this road," he told reporters.
He expects construction to start in 2020 and the road to open in 2027. The road will be fully funded by taxpayers.

The premier also pledged three more crossing removals at Deer Park and Ardeer.

The premier alongside transport minister Jacinta Allen.
The premier alongside transport minister Jacinta Allen. (AAP)
The road and rail plans would increase net debt to12 percent of Gross State Product, borrowing $25.6 billion to build North East Link, the Airport Rail Link and level crossing removals.
“We pay some, and our kids… who will be the principal beneficiaries, will also make a contribution to the projects that are so vitally important,” Treasurer Tim Pallas told 9News.
Mr Pallas said the state can maintain its AAA credit rating through a dedicated infrastructure fund that would take a $2.3 billion dividend from Victorian insurers over a four-year period.
The treasurer added that there is “no need for new taxes” to fulfil the government’s election commitments.
“I am not going to constrain the Victorian economy by not being able to make changes where we see the changes are appropriate,” he said.
Both Labor and the Liberal Party have promised to build the North East Link toll road, although Opposition Leader Matthew Guy has said he will review the plans if he wins office.
Mr Guy's seat of Bulleen is affected by the current proposed route.
Roads Minister Luke Donnellan said a review of the project by a Liberal-Nationals government would delay construction.
"A vote for the Liberal party ... will mean it will be delayed, continue to be delayed forever," he said.
Melbourne North-East link design. (AAP)
"The last four years that the Liberal party were in they simply didn't get a major project started and completed in their term."
Mr Andrews said the project "stacks up", unlike the dumped East West Link toll road, which cost the state more than $1 billion to scrap in 2014.
"We have got to accept funnelling people through the centre of the city is not the answer," he added.
"Finishing the ring road will allow people to move around the city that's what stacks up."
Mr Andrews then set off for Deer Park, in the state's west, to announce the removal of three rail level crossings, some of Labor's hit-list of 25 if re-elected.
Victorians go to the polls on Saturday.
With AAP
Watch the full news bulletin on 9Now

November 16, 2018

Indonesian Road Contracts

WSBP Aims New Contracts Value of IDR10.39 Trillion in 2019

PT Waskita Beton Precast Tbk
JAKARTA, NNC - As of October 2018, PT Waskita Beton Precast Tbk (IDX:WSBP) has successfully secured new contracts value of IDR4.56 trillion from 2018 new contracts target of IDR6.6 trillion.
The new contracts originated from several large projects being supplied by WSBP, including additional work on the Cibitung-Cilincing Toll Road Project, additional work on the Kulonprogo I Project, additional work on RDMP (Refinery Development Master Plan) RU V Balikpapan, and other projects.
President Director of PT Waskita Beton Precast Tbk Jarot Subana said that within the remaining two months, the company will focus on pursuing the target of obtaining contract value this year.
"For this reason, WSBP has also obtained several potential projects that can increase the value of WSBP new contracts until the end of this year, namely the Pekanbaru-Dumai Toll Road Project, Kuala Tanjung-Indrapura Toll Road Project, additional work for the KLBM (Krian-Legundi- Bunder-Manyar) Toll Road Project and a number of other projects," said Jarot, Wednesday (11/14/2018).
For information, the contract value target of IDR6.6 trillion is the revised result of the company's Work Plan and Budget, because previously WSBP projected new contract value of IDR8.3 trillion.
The change was due to several major project tenders being postponed including the Probolinggo-Banyuwangi Toll Road Project, Balikpapan Penajam Bridge and the Singosari-Batu Toll Road Project.
Meanwhile, in 2019, WSBP targets the acquisition of new contracts value of IDR10.39 trillion from both internal and external projects.
PT Waskita Beton Precast Tbk was formed officially as a subsidiary of PT Waskita Karya (Persero) Tbk (IDX:WSKT) on October 7, 2014.
WSBP is a company producing precast and ready mix concrete with the current largest production capacity in Indonesia. The company listed its first shares on the Indonesia Stock Exchange (IDX) on September 20, 2016.

Credit Union HQ Construction to begin

Construction work is poised to start on a new headquarters for one of Ireland’s largest credit unions after a breakthrough in a legal dispute which stalled the project for years.
The chief executive of Bishopstown Credit Union in Cork, which has almost 21,000 members and assets of €150m, confirmed that the dispute with Dunnes Stores over a small section of land next to the earmarked site on Curraheen Road, has been settled to everyone’s satisfaction.
Pictured, on site, after the official contract signing, were members of the Board of Directors and officials from Cumnor Construction and project team. Pic: Brian Lougheed
The settlement, which did not involve any financial payments, has cleared the way for the signing of contracts for the construction of the credit union’s new headquarters on the site of the former Viscount Bar - plans for which were first unveiled in 2013 - two years after the credit union bought the bar and demolished it.
A planning appeal to An Bórd Pleanála delayed the project by 2.5 years before the dispute with Dunnes further delayed building. The site has lain vacant and surrounded by hoarding for several years.
But Mr Kenny confirmed last night that builders will be on site within days after a €5.835m contract was awarded to Cumnor Construction following a competitive tender process.
Construction is expected to take a year to complete.
He also defended the cost and scale of the project and said it will ensure that the branch will be able to cater for growth and future development of credit union sector which has seen many mergers in recent years.
Chairman of Bishopstown Credit Union, David P Barry, welcomed the signing of the contract: “We are now re-establishing our presence in the heart of Bishopstown.
"Work will commence this month and it is intended that the building will be completed and fitted out in 12-months.
As one of the largest community-based credit unions in Ireland, with assets of €150m and a staff of 30 people, we have outgrown our current premises on the Wilton Road and our new headquarters will enable us to make further progress as a key local financial service provider.
“We are a strong and secure financial institution which has made significant investment in IT as a feature of the credit union’s success, and we now have one of the most advanced service delivery channels in the country," he added.
Founded in 1967, Bishopstown Credit Union originally operated from the crypt of Dennehy’s Cross church.
At one time, it had four branches - the headquarters it opened on Wilton Rd in 1997, the branch in Wilton Shopping Centre, as well as offices on the Curraheen Road and in Ballinhassig.
It closed the Curraheen Road and Ballinhassig branches as part of an overall cost-saving drive which achieved some €500,000 in savings.
Once the new building is ready, the credit union headquarters will relocate to Curraheen Road.
The Wilton Road premises, and the adjoining property which it also owns, will be sold - the proceeds of which will help offset the construction costs - and the Wilton Shopping Centre branch will be retained.