2020 may have been a horror year for many individuals and businesses on many fronts, but at least in one respect it closed out on a positive note for some with the opening of the Pacific Highway Duplication Project. 24 years in the making and at a cost of $15 billion, the 657 kilometre dual carriageway stretching from Newcastle to the Queensland-NSW border was finally completed and opened in early December 2020. According to reports this is the largest road infrastructure project that was undertaken anywhere in Australia and had created over 100,000 jobs over the life of the project.
For both transport operators and regular road users, this marks a significantly safer route that promises reduced travel times. With more than 1,000 lives tragically lost on this infamous road stretch between 1989 and 2019, the completion of this upgrade has been met with warm appreciation and enthusiastic celebration within local communities.
The Prime Minister Scott Morrison, NSW Premier Gladys Berejiklian and a number of NSW State Ministers were on hand to open the final stretch of the road from Woolgoolga to Ballina. In his remarks, the Deputy Premier John Barilaro said the dual carriageway Pacific Highway completion would drive increased productivity for freight. No doubt welcome news for many truck owners and operators that transport freight along the M1 every week. A route which is the second busiest freight route in Australia.
No doubt echoing the sentiments of many transport operators, David Smith, the Chair of the ATA said that the completion of the project was a huge win for the trucking industry offering better safety outcomes for truck operators and other road users. Interesting to note that the ATA, the Australian Trucking Association was formed in response to the dreadful road tragedy on the Pacific Highway near the town of Grafton in October 1989.
Pipeline Road Projects
The Pacific Highway Duplication's inauguration marks the completion of one project, but numerous others are in the pipeline as both Federal and State Governments embark on an infrastructure surge to stimulate the post-COVID economy.
During the unveiling of the Pacific Highway endeavor, Gladys Berejiklian, the Premier of New South Wales, highlighted that her administration, alongside the Federal Government, had allocated close to $4 billion to expand the Pacific Motorway M1 to Raymond Terrace and construct the Coffs Harbour bypass.
On the opposite side of the nation, the Western Australian Government is collaborating with the Australian Government in a substantial effort to enhance road safety measures for regional roads. Many of these initiatives are already in progress, with a projected completion date set for mid-2021, while others are scheduled for implementation by mid-2022.
The life-saving road enhancements in Western Australia encompass the sealing of previously unsealed sections of road shoulders, as well as the incorporation of audible edge lines. This innovative feature is intended to alert drivers when they veer out of their travel lane.
In Queensland, the Roads of Strategic Importance (ROSI) Project is proceeding with consultations underway. The ROSI is focussing on ensuring efficiency of key freight roads in connecting mining and agricultural regions with the necessary ports, hubs and airports.
These represent only a portion of the numerous projects slated to be carried out across Australia throughout 2021 and beyond. These projects are geared towards enhancing road infrastructure, generating employment opportunities, and bolstering economic growth. However, for truck proprietors and transport operators, they also signify the possibility of heightened productivity, time-efficiency gains, and potentially reduced vehicle wear and tear – factors that could lead to lower maintenance expenses and minimised downtime. Collectively, these elements contribute to an improved business bottom line for truck owners.
Improving the Bottom Line
Another factor which can contribute positively to a better bottom line is cost-effective finance. That is the role of Jade when sourcing cheap truck loans for our customers across Australia. Not waiting for a reason, a stimulus response or adopting a time-limited, project-based focus, we consistently, constantly and continually deliver on cheaper interest rates truck finance.
Currently, interest rates are at historic low levels which has further improved the rates we can offer on our truck loans. Jade offers better interest rates across our loan portfolio which includes:-
- Chattel Mortgage for Trucks
- Truck Leasing
- Truck Rent-to-Own
- Truck CHP
- Low Docs, ABN and No Doc Truck Loans
Investing in a new truck can mean investing in your own safety with truck manufacturers investing heavily on R&D into new safety innovations and features in their new models. In November 2020 Volvo Trucks announced the biggest launch of new models into the Australia they have ever undertaken. The new trucks focus on driveability, comfort and most importantly safety. We covered the new Volvo models in a recent article, so check our articles library for more details.
If you’re considering upgrading to take on the Pacific Highway Duplication with the improved productivity and efficiency that a new truck can deliver, speak with Jade Truck Loans about how we can further contribute to your business bottom line.
Contact Jade Truck Loans to discuss your truck finance requirements on 1300 000 003.
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