The biggest roundabout in central west New South Wales will be built on Condobolin road as a key feature of the Parkes Bypass.
The Newell Highway bypass of Parkes has been in planning for decades to alleviate the constant flow of heavy freight vehicles and visitor traffic passing through the town.
"It's fantastic to see this once in a generation Parkes Bypass project progressing," State Member for Orange Phil Donato said.
"Also importantly, this project is not only delivering road and transport benefits - it's also supporting 350 jobs and injecting vital funds into small businesses in Parkes and the broader Central West region, which is bouncing back stronger than ever after unprecedented floods."
The Australian Government is contributing $229.7 million to the $287.2 million project, with the remaining contribution being made by the NSW Government.
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The project is part of the $1.5 billion investment from the Australian and NSW governments into the Newell Highway Corridor, with the Australian Government committing $1.1 billion.
"The Australian Government, is pleased to have committed significant funding to this first exciting part of the project to safely bypass the Parkes CBD from the busy Newell Highway," Federal Infrastructure, Transport, Regional Development and Local Government Minister Catherine King said.
"Our Government is working for all Australians to deliver significant infrastructure that connects communities, stimulates jobs and builds the future of our nation."
A 450 metre section of Condobolin Road, between Ross Road and Marshall Place will be closed to all motorists.
Construction work to build the new 98-metre-diameter roundabout will start during the July school holidays and is expected to continue for four months.
Work will be carried out between 7am and 6pm, Monday to Friday and 8am to 6pm on Saturdays as this project is expected to be completed by November 2024, weather permitting.
The large roundabout - which will allow motorists to travel at 80 km/h - will also feature a large sculpture in its centre, which has been designed in collaboration with Parkes Shire Council.
Detours for vehicles travelling between Condobolin and Orange is via Hartigan Avenue and vehicles travelling between Condobolin and Dubbo will be detoured via Thomas Street, Moulden Street and Ross Road.
Access for residents and businesses located within the closure area on Condobolin Road will be maintained.
"The Parkes Bypass is a project that will provide improve road safety, reduce travel times and increase efficiencies for the freight industry," NSW Labor's Duty MLC for Orange Stephen Lawrence said.
"Not only will Parkes benefit from its progression, but the entire Central West will too and the thousands of motorists from across Australia that use the Newell Highway every day."