Sydney to Newcastle high speed rail costs blown out by consultants

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Sydney to Newcastle high speed rail costs blown out by consultants

//business-finance.news-articles.net/content/202 .. h-speed-rail-costs-blown-out-by-consultants.html

Published in Business and Finance on Saturday, February 15th 2025 at 18:41 GMT by MSN

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

A long-awaited high speed rail project has already cost taxpayers millions in consultants fees and cultural advisory before laying an inch of track. The project - still in its early stages - is expected to cut travel times between Sydney and Newcastle from 2.

2025-02-15 216 x 130 / 8072 Bytes

The proposed high-speed rail project between Sydney and Newcastle, initially estimated at $13 billion, has seen its costs escalate significantly due to consultancy fees. According to a report by the Sydney Morning Herald, the expenses for consultants have already surpassed $100 million, with the total cost of the project now projected to be between $100 billion and $130 billion. This cost blowout has raised concerns about the project's feasibility and financial management, with critics questioning the value for money and the efficiency of the consultancy services involved. The rail line, intended to reduce travel time to just 45 minutes, is part of a broader vision to connect major cities along Australia's east coast, but the rising costs are prompting a reevaluation of the project's scope and funding.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/sydney-to-newcastle-high-speed-rail-costs-blown-out-by-consultants/ar-AA1z5QtH ]