The ACT government announced on Thursday it has earmarked funds from its 2016/17 budget to complete the Cotter Road duplication.
The budget will commit $28.9m to the project in 2016/17 and over the forward estimates, with the aim to complete the project in 2018/19.
The project has been part of the Government’s forward planning on transport infrastructure upgrades, having been designed and costed in previous budgets.
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Some upgrades to the road have already been completed, including signalling at the Lady Denman Drive and Cotter Road intersection.
The ACT government claims the upgrade will help service the thousands of new residents expected in the Molonglo Valley and Weston Creek over the coming decade and improve travel times for motorists, buses and cyclists.
Transport minister Meegan Fitzharris said: “Cotter Road is an important road connecting the growing Weston Creek and Molonglo Valley region to the rest of our beautiful city.
“The ACT government is committed to improving our transport network, no matter where you live. Whether this means improving the bus services, investing in new modes, or upgrading our roads and cycle paths.”