Universal Bridging Consortium (UBC) has published a proposal to develop a 14km bridge linking Kangaroo Island to the South Australian mainland potentially through a public-private partnership (PPP). If built, it would be one of the longest overwater vehicle bridges in Australia.
Infrastructure/PPP news in Oceania
Infrastructure Australia, the nation's independent infrastructure advisor, has launched new guidelines to drive greater transparency and accountability in infrastructure decision-making and reduce instances of major projects receiving funding before appropriate planning and assessment.
The government of New Zealand has selected a consortium led by CIMIC Group companies Pacific Partnerships and CPB Contractors as the preferred proponent to deliver the Waikeria Corrections and Treatment Facility Public Private Partnership (PPP) project.
MegaProject 1273: US$750 million Parramatta light rail PPP advances despite LRT issues elsewhere in NSW
Stage 1 of the Parramatta Light Rail project in New South Wales, south-east Australia, has received planning approval, allowing construction to begin before the end of the year.
VAC Group is suing the government of New South Wales, a state in the south-east of Australia, at least AUD4 million (US$3.0 million), plus damages, over the Sydney Light Rail project. This is the second lawsuit filed in relation to the project, with sponsor Acciona launching a AUD1.2 billion (US$905.5 million) suit earlier this year.
Following an unsolicited proposal, New Zealand's Cabinet has agreed to tender the Auckland Light Rail Project. This involves the development of two light rail lines that will connect the central business district of Auckland, the largest city in New Zealand, located on the country's North Island, to the airport and the north-west region. It is estimated to cost NZD6 billion (US$4.18 billion).
The government of New South Wales, an Australian state in the south-east of the country, is selling a 51% stake in Sydney Motorway Corporation (SMC). The corporation is responsible for managing the development, construction, funding, operation and maintenance of WestConnex, a programme of projects that aims to develop and upgrade road access in the south-west of Sydney, valued at AUD16.8 billion (US$13.1 billion).
Palisade Investment Partners is pleased to announce it has reached agreement with Utilities of Australia Pty Ltd as trustee of the Utilities Trust of Australia to acquire the remaining 50% interest in Port of Portland.
The Board of Utilities of Australia Pty Limited, trustee of the Utilities Trust of Australia fund (UTA), has confirmed the selection of H.R.L.Morrison & Co Limited (Morrison & Co) as the preferred manager of UTA. The open-ended global infrastructure fund was established in 1994 and was formerly managed by Hastings Funds Management.
The Queensland Government has announced the shortlisted companies for the contracts to build Cross River Rail, a 10.2 km rail line in the south-east of Queensland, a state in the north-east of Australia. It is scheduled to be operational by 2024, with estimated construction costs of AUD5.4 billion (US$4.2 billion).
The City Council of Christchurch, a city on the east coast of New Zealand's South Island, is now inviting applications from individuals, groups and organisations interested in using and/or helping to fund the restoration of 17 Council-owned heritage facilities across the city and Banks Peninsula. The Council are keen to find new uses for the buildings.
Auckland International Airport Limited has announced its intention to offer its 24.6% stake in North Queensland Airports (NQA) for sale to existing investors for AUD370 million (US$294.43 million). NQA owns and operates two airports in Queensland, in the north-east of Australia: Cairns Airport and Mackay Airport.
AMP Capital has acquired a 21% stake in the Victorian Comprehensive Cancer Centre (VCCC) building, located in Melbourne, Australia, from funds managed and/or advised by Partners Group on behalf of investors in its Community Infrastructure Fund (CommIF).
DIF has been awarded a 30-year purpose-built student accommodation (PBSA) concession by the University of Tasmania in Australia, through its DIF Infrastructure V fund. As the sole equity sponsor, DIF will operate and maintain a portfolio of approximately 1,800 existing beds across 10 PBSA facilities.
The Netflow consortium, comprising Cintra and Plenary, has achieved financial close on the A$1,800 million (US$1,38 million) Western Roads Upgrade project, Victoria’s largest single investment in arterial roads to date.
Macquarie Group Limited (Macquarie) has completed the sale of its 11.3% principal holding in Macquarie Atlas Roads (MQA), a listed investment company. Macquarie sold 76 million securities in MQA at a price of $6.00 per security to a wide range of institutional investors via a bookbuild.
Cross Yarra Partnership, a consortium consisting of Lendlease, John Holland, Bouygues Construction and Capella Capita, has reached agreement with Melbourne Metro Rail Authority for the financial close of the Tunnel and Stations Package as part of the Metro Tunnel Project.
AMP Capital has increased its stake in the Victorian Desalination Project (VDP) on behalf of investors in its Community Infrastructure Fund (CommIF).
Dai-Ichi Life Insurance has announced that it has completed its first acquisition finance investment, for High Speed 1, a British railway concession, and first loan to an Australian project, for the refinancing of the Victoria Desalination Project.
Transurban yesterday finalised a contract with the Victorian Government to build and operate the West Gate Tunnel Project. It has been estimated that the final design approved for construction will cost AUD6.7 billion.