The Otago transport system will receive $280 million of national funding over the next three financial years, two-thirds of which is earmarked for the maintenance of existing roads.
It is almost $15 million less than the previous three-year allocation for Otago of $294.8 million in the 2009-12 national land transport programme.
Only $266 million of that was actually spent, so there is the potential for the region to benefit from a much larger investment in the next three years, New Zealand Transport Agency southern region director Jim Harland said.
The new figure is 5% down on the previous allocation and about 5% up on what was spent.
The largest single Otago construction project awarded funding through the new plan was the Caversham highway development in Dunedin.
Its first stage was allocated $24.1 million, of which $1,893,700 had still to be spent and was included within the 2012-13 financial allocation for the year.
Stage two funding through the plan, released yesterday, amounted to $21 million and was set down to be spent evenly in the present and next financial years.
The 2012-15 programme comprised $12.3 billion of transport investment nationwide and was the largest of its kind, Transport Minister Gerry Brownlee announced yesterday.
He welcomed the New Zealand Transport Agency plan, which he said reflected the priorities of the Government, supported economic growth, improved safety and provided people with a range of transport choices "to deliver the best possible value for money".
It represented a 13% funding increase on the previous three-year programme, which comprised about $10.9 billion. The Otago share is 2.6% of the national figure.
To aid extra spending, a result of the Canterbury earthquakes and tight fiscal environment, the Government will increase petrol excise duty and road user charges from the 2013-14 financial year.
It will also allow the NZTA to borrow $100 million, and cap the National Land Transport Fund contribution to the Canterbury roading recovery at $50 million each year.
Mr Harland said the Otago allocation was in line with funding sought for the region through the Otago regional land transport programme 2012-15, which was subject to public submission.
During the submission process, the NZTA reduced its planned spending in Otago, citing national cuts which forced it to delay road renewal where safe to do so.
He said Otago's final allocation would ensure its transport assets were safely maintained and important projects could still be designed and constructed within a reasonable timeframe.
A replacement Beaumont bridge would likely be completed in the next national land transport programme period, Mr Harland said.
