Transurban Queensland, a global company that provides transportation solutions, has reached an in-principle agreement with the Brisbane City Council to deliver the A$60m ($45.9m) Inner City Bypass (ICB) upgrade project.

As part of the deal, Transurban Queensland will be financing and managing the project and will be responsible for the design and construction phases.

Upon completion of the upgrade, the company will also provide operations, routine maintenance and incident response services.

The ICB is located near Transurban’s Legacy Way, Clem7, Go Between Bridge and AirportlinkM7.

Transurban CEO Scott Charlton said: “The ICB is a key transport corridor in Brisbane.

"This project will help to relieve congestion, reduce travel times and enhance connectivity with major inner-city roads on the network.”

The upgrade project works include widening the ICB westbound from three to four lanes between the RNA tunnel and the Legacy Way portal as well as widening the ICB eastbound from three to four lanes between Legacy Way portal and Herston Road exit.

Scope of work will also include construction of a new westbound ramp to the ICB from Bowen Bridge Road, and there will be a provision of operations and incident response for the length of Legacy Way concession.

The deal also includes a provision of routine maintenance services on a ten plus ten-year contract, which will be decided by the council at a later stage.

The transportation solution provider will be engaged in delivering a high standard of operations throughout the corridor in order to improve traffic flows.

Subject to final agreement, Transurban Queensland intends to provide funding for the upgrade works through toll increases on Legacy Way, Go Between Bridge and Clem7.

"This project will help to relieve congestion, reduce travel times and enhance connectivity with major inner-city roads on the network."

The construction contract has been awarded to BMD Contractors.

Transurban Queensland expects to reach contractual and financial close, subject to standard Council approval processes in March this year.

The construction works are expected to be completed by mid next year.

Image: A map of the Inner City Bypass (ICB) upgrade project. Photo: courtesy of Transurban Limited.