Caisse de dépôt et placement du Québec (CDPQ) has announced that it joins the Sydney Transport Partners (STP) consortium to acquire a stake in WestConnex. CDPQ will invest AUD2.3 billion (US$1.66 billion) in the Australian road infrastructure project. 

STP has executed an agreement to acquire the remaining 49% equity stake in WestConnex from the NSW Government for AUD11.1 billion (US$8.04 billion). This transaction will take STP’s total ownership interest in WestConnex to 100%, with CDPQ owning a 10% stake in the  WestConnex project.

WestConnex is a toll road project, which is expected to be completed by 2023. The road will be a 33-kilometer traffic-light free motorway network linking Sydney’s west to Sydney CBD, Sydney Airport, and Port Botany.