mm presentation 20160223 business case briefing
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MELBOURNE METRO BUSINESS CASE BRIEFINGFebruary 2016
BACKGROUND
• Continuing population growth• Increasing demand on public transport• Changing economy – shift to central Melbourne
CHALLENGES FACING MELBOURNE
MEETING THE CHALLENGE OF POPULATION GROWTH
12.6
14.4
24
POPULATION GROWTH
Source: Plan Melbourne
POPULATION GROWTH WILL BE CONCENTRATED IN THE NORTH, WEST AND SOUTH EASTFigures indicate forecast population growth between 2011 and 2031.
POPULATION GROWTH WILL BE CONCENTRATED IN THE NORTH, WEST AND SOUTH EASTFigures indicate forecast population growth between 2011 and 2031.
WESTERN+420,000
NORTHERN+450,000
EASTERN+180,000
SOUTHERN+450,000CENTRAL
+270,000
AVERAGE GROWTH BY INDUSTRY 2001-2013(SIX LARGEST SECTORS)
NEW BUSINESS GROWTH
Source: Plan Melbourne
A CHANGING ECONOMY IS HAVING AN IMPACT ON WHERE PEOPLE WORK
A CHANGING ECONOMY IS HAVING AN IMPACT ON WHERE PEOPLE WORK
Over 500 businesses
250-500businesses
125-500businesses
51-125businesses
Professional
Manufacturing
NEW BUSINESSES 2001–2011
FUTURE RAIL NETWORK PATRONAGE
• Population growth• Inner city jobs• Road congestion• Parking costs• Environmental impacts
• Population growth• Inner city jobs• Road congestion• Parking costs• Environmental impacts
THE IMPORTANCE OF MELBOURNE’S CBD
• State’s economic and cultural hub –home to many iconic institutions, destinations
• Economy evolving towards inner-city produced, knowledge-based services
• Manufacturing relocating to the west of Melbourne
• CBD needs to continue to grow and realise its full job growth potential
“CENTRAL MELBOURNE IS SET TO BECOME AUSTRALIA’S LARGEST BUSINESS CENTRE WITH JOBSPROJECTED TO GROW TO ALMOST 900,000 BY 2051”
BUSINESS CASE RECOMMENDATION
Melbourne Metro: • Meets a pressing need to increase capacity of the metropolitan
rail network • Represents the best option identified to deliver the objectives of
rail investment • Is economically viable and backed by a strong strategic case • Is deliverable within the cost and timeframes proposed • Fits with the strategic policy objectives of Federal, State and
Local Governments • Delivers substantial social, environmental and economic
benefits• Is widely supported by stakeholders and the community
BUSINESS CASE RECOMMENDATION
• Benefit to Cost Ratio of 1.1• Benefit to Cost Ratio of 1.5 when
wider economic benefits are included
• Creates 3,900 additional jobs (net) across Victoria and 4,700jobs (net) nationwide at the peak of construction.
• Expected to increase Victorian GSP by $7 billion in present value terms
ECONOMIC CREDENTIALS
“A BCR GREATER THAN 1.0 INDICATES BENEFITS OUTWEIGHCOSTS FOR EVERY DOLLAR SPENT; MELBOURNE METRO WILL DELIVER A NETECONOMIC BENEFIT TO THE VICTORIAN COMMUNITY”
• Detailed financial model used to assess Melbourne Metro
• A $10.9 billion transformative infrastructure project for Melbourne and Victoria
• Rolling Stock - Government has committed $1.3 billion to build a new fleet of 37 HCMTs to operate on the Cranbourne / Pakenham Line.
COST
SCOPE
ACCESS TO STRATEGIC LOCATIONS
ARDEN
PARKVILLE
CBD NORTH
CBD SOUTH
DOMAIN
KEY BENEFITS
BENEFITS OF MELBOURNE METRO INCLUDE:
• Enhancing Melbourne’s liveability and Victoria’s prosperity by improving access to jobs, education, health, sport and culture
• Expanding the inner core of the rail network to meet demand in the growth corridors to the north, west and south-east of Melbourne
• More evenly distributing passenger flow and easingovercrowding in the inner core of the network
• Creating education and job opportunities in city’s inner west for Melbourne’s key population growth corridor to the north-west
• Improving access to the CBD and Parkville to support Victoria’s growing knowledge economy
BENEFITS OF MELBOURNE METRO INCLUDE:
• Upgrading rail capacity into and out of five existing and emerging national employment clusters (Parkville, Monash, Dandenong South, Sunshine, and East Werribee)
• Reshaping travel demand to enable a future opportunities for the tram network by moving services to the west of the CBD
• Relieving tram crowding and congestion on St Kilda Road and Swanston Street
• Improving capacity, reliability and punctuality for rail passengers
CAPACITY BENEFITS IN NUMBERS
• From day one of Melbourne Metro’s opening, 39,000 extrapassengers will be able to travel on the rail network during each peak period
• Capacity for around 12,000 of the extra 39,000 passengers delivered directly on the new stand-alone Melbourne Metro (Sunshine – Dandenong) line; remaining 27,000 uplift achieved on other lines – Upfield,Craigieburn, Werribee, Sandringham and Frankston
• Melbourne Metro will create different travel patterns for commuters, leading to a 20% decrease in crowding across existing CBD stations
NEXT STEPS
NEXT STEPS
• Environment Effects Statement – on exhibition• Procurement• Major early works (site preparations) in 2017 – subject to
planning approval• Major Works in 2018
QUESTIONS?
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