The Penlink Toll Road would bypass Silverdale, fast-tracking access to and from the motorway for Whangaparoa commuters.

A Chinese construction company has offered to build a long-planned four-lane toll road north of Auckland.

Auckland Business Chamber's chief executive Michael Barnett said the company was willing to foot most of the $400 million needed to build the seven kilometre Penlink Toll Road, linking the Whangaparaoa Peninsula with State Highway One.

"This road is probably the only project ready to go in Auckland right now, all that's been holding it up is lack of finance," he said.

If the company's unsolicited bid gets accepted by the Government, Penlink Toll Road would be New Zealand's first Chinese-funded and built road, said Barnett.

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The form of project-financing being pitched is known as 'BOOT', where a private investor builds, owns, operates, then transfers the facility to the public sector at the end of its concession.

Barnett said he'd expect the Chinese company to own the road for 20 to 25 years, collecting a $2.50-odd toll per trip in revenue, before transferring it for free to Auckland Council.

"At some point we've got to come to the realisation that we're playing catch-up with roading," he said.

"This way the road won't be costing the taxpayer, it won't be using up council or Government funds – they can continue funding their priorities."

The project would be operated as a joint venture with a Kiwi company, using local and international labour. It would be regulated by the Government.

Barnett said the new road would cross the Weiti River by bridge, easing congestion by diverting around 50,000 of the nearly 130,000 vehicles per day currently travelling through Silverdale to access the motorway.

Construction could begin "immediately" if the bid was accepted, said Barnett.

"This road has been in the pipeline for two decades, other than money it's ready to go," he said.

"That will be hugely attractive to North Shore's business and residential communities who are having to put up with traffic queues stretching up to 10km most mornings."

Barnett said he didn't have the name of the Chinese company to hand but it was "one of China's largest" road and rail builders.

The New Zealand Transport Agency confirmed it had received a letter from a consortium proposing an unsolicited bid to deliver the Penlink Toll Road.

"This, like any unsolicited bid, would be treated according to the Government guidelines for such bids as set out in Ministry of Business, Innovation and Employment policy," said NZTA's general manager of system design and delivery, Brett Gliddon.

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