CIMIC-led consortium wins Canberra Light Rail Stage One17 May 16
CIMIC Group companies Pacific Partnerships and CPB Contractors, as part of the Canberra Metro consortium, have been awarded stage one of Canberra’s light rail project, Capital Metro, by the Australian Capital Territory Government.
The CIMIC Group’s role in the Canberra Metro consortium spans sponsorship, design, construction, operations, maintenance and equity investment.
Stage one of Capital Metro will generate revenue to CIMIC of approximately $300 million over the design and construction period and $300 million over the 20-year concession period.
CIMIC Group Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: “Projects such as Canberra’s light rail, and others in the PPP pipeline, are creating demand for the CIMIC Group’s infrastructure investment expertise and major project design and construction capabilities.
“Through Pacific Partnerships and CPB Contractors, CIMIC generates competitive solutions, offering clients value throughout the project chain, from development to delivery and long-term asset management.”
CPB Contractors Managing Director Román Garrido said: “Stage one of Capital Metro will provide the backbone of an accessible and user-friendly public transport system and a new industry for Canberra.
“The key to this project’s sustainable and successful delivery is the planned participation of local business. Creating local jobs and enhancing workforce capabilities will benefit future light rail stages and other regional infrastructure projects.”
Pacific Partnerships Managing Director Angel Muriel said: “The consortium is looking forward to working with the Australian Capital Territory Government and the community to deliver the first light rail project for Australia’s National Capital.
“Pacific Partnership’s PPP expertise, and the CIMIC Group’s financial strength and range of capabilities position us strongly for this project and others in the PPP pipeline.”
Canberra Metro comprises the CIMIC Group’s Pacific Partnerships and CPB Contractors, as well as John Holland, Mitsubishi Corporation, Aberdeen Infrastructure Investments, DB Engineering & Consulting (formerly Deutsche Bahn International), CAF and Mitsubishi UFJ Financial Group Ltd (MUFG).
Pacific Partnerships will invest in equity funding along with John Holland, Mitsubishi Corporation and Aberdeen Infrastructure Investments. Pacific Partnerships will also provide operations and maintenance services for 20 years, in partnership with John Holland and DB Engineering & Consulting.
CPB Contractors will deliver the design and construction in a joint venture with John Holland. CAF will supply and maintain the light rail vehicles. MUFG is the financial advisor with funding provided by local and international banks.
The first stage of the Capital Metro project includes design and construction of a 12km light rail route from the fast growing area of Gungahlin to the city, with 13 stops, depot, road, signalling and preparatory works, and the ongoing operation and maintenance of the light rail system.
Canberra Metro will complete construction in late 2018 and begin operations in early 2019.