The Albanese government is contributing $674 million to the program while the Minns government is investing $610 million, taking total combined investment, including previously announced contributions, to $1.74 billion.
Federal Transport Minister Catherine King said the upgrades would ensure the state's supply chains were not disrupted. "Our export industries and freight operators are the backbone of the Australian economy, and they rely on safe and reliable roads," she said.
NSW Roads Minister Jenny Aitchison said the Newcastle to Dubbo corridor was especially important after the Great Western Highway's closure due to a structural failure at Victoria Pass. "[The Golden Highway] is quite important because it doesn't have that more fragile geological infrastructure that we see across the Great Dividing Range," she said. "Also it connects Dubbo and the broader Central West with the second largest city in New South Wales."
The route has been important for transporting massive wind turbines and generators to the Central West Orana Renewable Energy Zone (REZ). Pauline Hanson's One Nation party has been critical of the REZs, citing the impact on regional roads among other concerns. However, Ms Aitchison said the upgrades were not solely focused on supporting the renewable energy industry. "It is important for freight of all kinds, whether it's agriculture, mining or anything else," she said.
Ms Aitchison said the upgrade, helped by a new cash injection of $294 million, would also include improvements to John Renshaw Drive and the Hunter Expressway.
The state and federal governments said the regional road upgrades would include wider shoulders and intersections, as well as new turning and overtaking lanes. New and improved rest stops and pull-over bays would also be added, along with additional heavy vehicle facilities.
More than $680 million of new money will be invested in the Muswellbrook to Armidale corridor, taking the total investment in that project to $849 million. Ms Aitchison said the upgrades would include key sections of the New England Highway. "People are looking for better productivity. That requires the roads to be wider and to allow more opportunities for passing from general traffic," she said.
In the state's south-west, the corridor between Euston and Tocumwal will receive $310 million in new funding for upgrades along the Sturt and Newell Highways, as well as Kidman Way.
Premier Chris Minns said better roads would lead to a stronger economy. "This investment will make roads safer for local families, improve travel times and make it easier for businesses and freight operators to get their goods where they need to go," he said.