Major construction on Stage 3 of the Light Rail will get underway next month with the state government finally signing a contract for the project.
But the line from Broadbeach to Burleigh will now be two years late and will cost $500 million more than originally forecast.
After 18 months of negotiations, the contract with John Holland was finalised earlier this week.
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The original cost of Stage 3 was forecast to be $709 million when it was first announced but will now cost $1.2 billion.
It’s not expected to be completed until mid-2025.
The 6.7 km line will see the construction of eight new stations including at Mermaid Beach, Nobby Beach, Miami and Burleigh Heads.
Premier Annastacia Palaszczuk says Stage 3 will create 760 jobs.
“John Holland have already been doing early works, and are now ready to hit the ground running,” The Premier said.
“We know Gold Coasters love light rail, with the G recently clocking a milestone 60 million trips taken since it opened.”
Transport and Main Roads Minister Mark Bailey says work should start in the coming weeks.
“Stage 3 is the next step in delivering the envisioned 42-kilometre light rail connection from Helensvale to Coolangatta,” Mr Bailey said.
“There has been a significant amount of early works already undertaken by John Holland and we will now see construction works increase significantly on site.
“At this rate, we are on track for operations between Broadbeach and Burleigh Heads to commence by mid-2025.”
Mayor Tom Tate has welcomed the development and is expected to push for planning to begin on Stage 4 to Coolangatta.
“Light rail is our city’s public transport spine and when it comes to connecting the system to Burleigh and beyond, I say let’s go.”