SYDNEY, March 7 (Reuters) - The company building Australia's largest transport project said on Monday it was seeking additional funding from private investors, which two sources said would amount to more than A$1.5 billion ($1.1 billion).
Sydney is upgrading its road transport under the WestConnex motorway project linking the west and south with the airport as Australia's most populous city prepares for increased passenger and freight movement in the next few years.
Sydney Motorway Corporation Pty Ltd (SMC), which is responsible to design, build, own and operate the motorway on behalf of the government of New South Wales state, confirmed the financing to Reuters, but declined to specify an amount.
"SMC is currently planning to go to market to secure additional private finance to help support the delivery of WestConnex," a spokeswoman said in an emailed response.
Two people familiar with the matter told Reuters SMC was seeking A$1.5 billion and had already reached out to investment banks to help it raise the funds.
The sources declined to be named due to the confidentiality of the matter.
($1 = 1.3493 Australian dollars)