Back in November, secret NSW Government documents revealed that the Parramatta Light Rail Project – the centrepiece of the Government’s plans to cement Parramatta as Sydney’s second central business district, as well as facilitate the building thousands of apartments around Sydney Olympic Park – has experienced a massive cost blowout and the benefits are unlikely to meet the costs.
According to the documents, the cost of the project had ballooned to more than $3.5 billion – $2.5 billion above what has been budgeted – whereas the project’s benefit cost ratio was well below one, suggesting it would deliver less benefit than cost.
