What further progress has been made on the Waikato Expressway road of national significance?
The New Zealand Transport Agency board has announced that it has approved funding for the $169 million Ngāruawāhia section of the Waikato Expressway. It marks another big step forward in developing this particular road of national significance. The construction contract is now out to tender and is likely to be awarded in April of next year. Construction is likely to begin in 12 months, and will take 3 years.
How does the Ngāruawāhia section fit into progress on the Waikato Expressway overall?
Construction of the Ngāruawāhia section will add another 10 kilometres to the expressway, and will create up to 300 jobs directly, with many more jobs in downstream industries. Construction will get under way later next year, meaning that three sections of the Waikato Expressway will be under way next year: Te Rapa, Rangiriri, and Ngāruawāhia. This is excellent progress towards National’s challenging pre-election commitment to improve the Waikato economy by completing the road within 10 years.
By what percentage was the benefit-cost ratio of this project increased when the new tool known as wider economic benefits was added to the analysis?
The standard benefit-cost ratio for the Waikato projects is 1:4—I do not have the ratio for that particular section with me. Including wider economic benefits it is 1.8 at the 8 percent discount rate. Those figures increase to 1.9 and 2.4 respectively at the 6 percent discount rate.