PRIVATISATION of two NSW ports will free up the funding promised in the state budget for the Pacific Hwy upgrade, NSW Treasurer Mike Baird has announced.
NSW Ports agreed to a 99-year lease worth more than $5billon for Port Kembla and Port Botany on Friday.
Mr Baird announced the money would do directly into Restart NSW infrastructure fund for projects including the Pacific Hwy duplication, West Connex and the Bridges for the Bush program.
"This is a fantastic result for the state," Mr Baird said.
"These projects are no longer just concepts, funding is here, and that is a big step forward for this state."
A spokesperson for Deputy Premier Andrew Stoner admitted the $5 billion was more than expected but would not be drawn on whether the State Government would up its contribution to the much needed upgrades.
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