NZ Infra and the New Zealand Transport Agency are continuing to progress their light rail proposals for the City Centre to Māngere corridor. This process will take up to six months and the Ministry of Transport will then provide advice on the proposals to the Government in February 2020. The Government will make a decision on the preferred partner after that date.
NZ Infra is a joint venture of the New Zealand Superannuation Fund and CDPQ Infra, an infrastructure subsidiary of the Canadian pension fund, Caisse de dépôt et placement du Québec (CDPQ). Further information can be found here: https://www.transport.govt.nz/
The project involves the tram-like carriages that run on dedicated rail lines, often down the middle of existing roads. The government proposes two initial routes - the first between the city and the airport along Dominion Road, and the second between the CBD and Kumeu northwest of the city, following state highway 16. The project is expected to costs about US$4.18 billion.
It is anticipated that the light rail system will be accessible to over 50,000 households and be able to carry 11,000 commuters per hour.
CDPQ is one of Canada’s leading institutional fund managers with USD238.2 billion in net assets and has extensive experience in infrastructure development and investment globally. CDPQ Infra is responsible for developing, building and operating Montreal’s 67-km light rail network.
NZ Super Fund has around NZD5 billion (US$3.48 billion) invested in New Zealand, and around NZD760 million (US$ 529.6 million) invested in infrastructure globally.