by Sheila Newman and Richard Laverack
Why build more roads now?
Why on earth, with petroleum supplies not meeting demand and oil prices through the roof, are we still engaging in public-private partnerships with road builders???
Toll-road operator, ConnectEast, has only one asset, a 39km motorway running from Mitcham to Frankston, at the cost of $3.5billion. In "A testing time for ConnectEast," The Australian Financial Review on 12 June 2008 reports that ConnectEast's shares are at their lowest value ever, just as it is about to open the toll-way, five months early. AFR Journalist, Chanticleer, thinks this is part of the 'thrashing' handed out to the 'debt-laden infrastructure sector in general'.
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