CIMIC Companies Preferred for Canberra Light Rail Stage One

Source: CIMIC Group - www.cimic.com.au 

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02 February 2016

CIMIC Group’s companies Pacific Partnerships and CPB Contractors, as part of the Canberra Metro consortium, have been selected by the Australian Capital Territory (ACT) Government as the preferred proponent to deliver the first stage of Capital Metro, Canberra’s light rail project.

Revenue to the CIMIC Group companies will be finalised at contract execution expected in coming months. The Canberra Metro consortium comprises Pacific Partnerships, CPB Contractors, John Holland, Mitsubishi Corporation, Aberdeen Infrastructure Investments, Deutsche Bahn International, CAF and the Bank of Tokyo - Mitsubishi UFJ.

CIMIC Group Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: “The ACT Government has opted for a Public Private Partnership (PPP) to deliver a sophisticated infrastructure investment securing a state of the art service for the people of Canberra.

“The CIMIC Group’s PPP expertise, financial strength, diverse capabilities and major project experience position us strongly for projects such as Canberra’s light rail and others in the PPP pipeline.

“With Pacific Partnerships now firmly established and harnessing the Group’s international PPP experience, CIMIC will continue to target PPPs and deliver major infrastructure projects with a seamless end-to-end service, acting as sponsor, equity participant, contractor and asset manager.”

CPB Contractors Managing Director Román Garrido said: “The Capital Metro project will deliver a high quality, reliable and frequent public transport service, bringing broader benefits to Canberra’s economy and community.

“Our team is focused on providing innovative design solutions and construction methodologies that deliver value for money, mitigate construction impacts and enhance light rail operations.”

CIMIC Group’s role in the Canberra Metro consortium spans sponsorship, design, construction, operations, maintenance and equity.

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 Deutsche Bahn International.

CPB Contractors will deliver the design and construction in a joint venture with John Holland. CAF will supply and maintain the light rail vehicles. BTMU 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.

The project’s construction phase is scheduled to start in coming months and Capital Metro is expected to be operational from late 2018.

 

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