AUSTRALIA’S first racecourse has been awarded a $1.8 billion grant to build an indoor track.
Key points:The $1 billion in grants will help support the construction of the new Aussie Racecourse, which is set to open in 2019The $500 million grant is the first in a series of new funding streams announced by the governmentThe project is set for completion by 2021The government says the new track will provide a better experience for racegoers and touristsThe new track, which will be built in Sydney’s outer south-west, will be the first indoor track in Australia to be built by an Australian company and will provide an improved experience for racers and spectators, officials said.
Key Points:The grant is part of a series to fund infrastructure projects in AustraliaThe grant, which was announced on Friday, will support the development of the Aussie Grand Prix track and the construction and operation of a new racecourseThe new AUSTRAINE racecourse is set in Sydney and will be a new addition to the racing circuit at A-mountains Sydney.
The Australian Government has committed $500m over four years to the A-Mountains Sydney Racecourse Project to help fund the construction, operation and maintenance of a $2.5 billion indoor racecourse.
“This new facility will be part of the first of its kind in the country and will offer a better and more enjoyable race experience for spectators and racers,” Transport Minister Stephen Mullighan said.
“The $2 billion investment will help to create more jobs, increase tourism revenue and create a vibrant sporting community.”
The A- Mountains Sydney project is expected to cost $1,300 per person, compared to $700 for the existing Sydney-based A-Creste racetrack.
“A-mountain Sydney is the world’s largest indoor track, and the A.G.P. has committed to building the world-class facility that will create an economic and sporting boost to our region,” Mr Mullighans said.
He said the project would create jobs and create jobs for people who would otherwise be unemployed.
“We will also be helping the local economy, which in turn will help create jobs here in Sydney, creating jobs for those who can’t afford to pay to live here,” he said.’
A world class facility’The Government has been working with A- mountains Sydney to deliver the project, with the Government funding the $500,000 construction cost of the track and building $1 million of the facility.
“Australia’s first race track, a world-leading racecourse that will provide the world class experience of racing and the world champion racing experience, will soon be opening to the public,” Mr Cockerham said.
The Government is also committed to funding the AUS racecourse and A-creste project, as part of its $1bn funding package for infrastructure projects.
“Today, the Government is announcing more than $500 billion of infrastructure investment in Australia,” Mr Abbott said.
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