Second Sydney airport estimated to require investment of up to USD3.2bn

Australia's HostPlus CEO David Elia, speaking at the CAPA Australia Pacific Aviation Summit, estimated (09-Aug-2013) a second Sydney airport at Badgerys Creek would cost AUD2.5 to AUD3 billion (USD2.3 to 2.7 billion), not including surrounding infrastructure. An airport at Wilton is estimated to cost AUD3.5 billion (USD3.2 billion) due to land acquisition. Mr Elia estimated an airport at Badgerys Creek would require seven to 10 years of planning and another seven to 10 years to construct. Mr Elia said potential investors in a new airport project would require "some element of government underwriting" to establish a minimum income stream.