WSA Co created as a government business enterprise
The federal government has taken the next step in the creation of the Western Sydney Airport. Announcing that it has launched WSA Co, the government business enterprise that will be tasked with investing $5.3 billion in equity to create Sydney’s second airport.
WSA Co will now set to work to complete stage one of the new 3.7KM runway which is expected to be operational by 2026 with the $5.3 Billion being allocated in the 2017/18 budget for spending over the next decade.
Four appointees to the board of directors have also been announced:
The creation of WSA Co comes after the operators of Sydney’s Kingsford Smith Airport did not choose to option their right of first refusal which was included in the 2002 Kingsford Smith Airport sale agreement.
The Federal government had already indicated their intention to progress the project even if the Kingsford Smith Airport owners did not choose to take up the option.
As preparation work begins, with construction expected to start in late 2018 a 3.2 kilometre section of a high voltage power line that currently crosses the Western Sydney Airport site will need to be relocated to allow Western Sydney Airport to operate.
The line is owned by Transgrid and will need to be relocated underground along with some other preparatory works at the site.