In Spite of a Drop in Net Profits, Airport Link to Complete as per Schedule

Brisbane airport road-link builder, BrisConnections said that the building of the road infrastructure project, which is worth A$5.6 billion, will be finished on its scheduled time in 2012. According to the Chairman of BrisConnections, Trevor Rowe, the firm and its new service provider have managed to finish 52% of the project.

Airport Link would help in enhancing traffic currents and a much stronger Brisbane community would evolve. Rowe said that the project is moving on time and within the budget.

It would not need re-funding till the year 2018, as more than $1.28 billion has been drawn and additional backing for the plan is already prepared.

Rowe said, “Upon completion, Airport Link will provide a valuable multi-destinational connection including Brisbane’s northern suburbs containing the majority of the Brisbane population, Brisbane’s CBD, Brisbane Airport, Australia’s TradeCoast and the Inner City Bypass”.

Meanwhile, there are reports that BrisConnections declared losses for the year that ended on June 30. Its net profit dropped from $24.39 million to $17.16 million.

On Friday, shares of BrisConnections closed at $1.00, on the ASX.

Rowe said that the past two years have been challenging for the board, investors, and the infrastructure sector, on the whole. But the sector is seen to be supplying important long term investment openings once again.