Transurban plans $850m Vic road upgrade

In-principle agreement reached with Vic govt on CityLink project.

Transurban Group (TCL) has reached an in-principle agreement with the Victorian government for an $850 million upgrade to the western section of CityLink, the Bolte Bridge-West Gate Freeway interchange and the Tullamarine Freeway.

The company said its full-year 2015 distribution guidance of 39c would be unaffected by the project, which is set to address congestion and safety on the road and is still subject to Transurban reaching final agreement with the state.

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