The New South Wales Government has so far allocated $4.7 billion to Restart NSW, the fund established in 2011 with the goal of driving renewed economic and social infrastructure funding across the state.

Premier Barry O’Farrell said that funding will contribute $1.8 billion to the delivery of the WestConnex motorway, as well as upgrades to the Pacific and Prices Hughways.

“Restart NSW is now enabling the NSW Government to get on with building the infrastructure the people of NSW want and deserve,” Mr O’Farrell said.

“We have allocated a total of $4.7 billion into Restart NSW so far, comprising the proceeds of two major asset transactions, tax revenues that exceeded forecasts from 2011-12 and the Waratah Bonds program.

Treasurer Mike Baird said that the recent leases of Port Botany and Port Kembla had contributed to the state’s ability to fund more infrastructure projects through the fund.

“Thanks to the success of the recent transaction involving Port Botany and Port Kembla - which realised, in net terms, 25 times the annual earning of the Ports –Restart NSW has been boosted to $4.7 billion and has enabled the Government to fully fund its commitment to the first stage of WestConnex,” Mr Baird said.

Along with $4.3 billion in net proceeds from the Ports transaction, Restart NSW has received $312 million from the lease of the Sydney Desalination Plant, $96 million from windfall tax revenues announced at the Half Yearly Review, and $46 million to date from Waratah Bonds.