Stage 1: M4 widening (east of Parramatta) and tunnel to Harberfield
Stage 2: M5 duplication
Stage 3: M4-M5 link
Stage 4: Western Harbour tunnel and possible Northern Beaches link
The latest report from Infrastructure Australia shows yet another stage is under consideration:
Stage 5: M4 motorway upgrade - Parramatta to Lapstone
(Source) page 7 from this report:
Could this be a case of fattening up the WestConnex business case (by pumping in even more cars from Penrith & Blue Mountains) - so as to ensure all the expensive road tunnels east of Homebush will be filled up and hence generate the tolls to make selling of the WestConnex toll concession more lucrative (or less loss making)?