Sydney Light Rail reaches contractual close
John Laing, the leading international investor and manager of infrastructure projects, today announces that Australia’s Transport for New South Wales (TfNSW) has formally appointed ALTRAC Light Rail partners for the delivery and operation of Sydney’s new Central Business District (CBD) and South East Light Rail, with the project contract now signed.
ALTRAC Light Rail consists of Transdev Sydney, Alstom Transport Australia, Acciona Infrastructure Australia and Capella Capital. John Laing participates in the project as equity investor together with First State Super and Acciona Concesiones.
The Sydney Light Rail Public Private Partnership is a rail infrastructure project designed to reduce congestion in Sydney and surrounding areas.
The project is split into two sections. The first comprises the design, construction, services relocations, operation and maintenance of the CBD and South East Light Rail project, a new 12-kilometre railway stretch from Circular Quay through the central business district and out to the Moore Park sporting and entertainment precinct and Randwick Racecourse. The second involves the operation and maintenance of the existing 12km Inner West Light Rail network operating out to Dulwich Hill.
The CBD and South East Light Rail section will be constructed over a four year period beginning in the second quarter of 2015, with 19 light rail stops along the route. The route will be serviced by a fleet of 30 electric-powered Light Rail Vehicles with the option for TfNSW to order more during the 15 year operating period. The new light rail network is expected to provide a significant boost of more than A$4 billion in economic benefits to the NSW economy and create 10,000 jobs.
Olivier Brousse, CEO of John Laing said: “This light rail extension project will provide a practical solution to relieving the problem of congestion in central Sydney. We are delighted that TfNSW has chosen a public private partnership to deliver the CBD and South East Light Rail, and subsequently recognised the collective expertise of the consortium to design, construct, operate, maintain and finance the project”.
The project includes significant public domain improvements including landscaping, trees, lighting, paving and street furniture.
The ALTRAC Light Rail proposal future-proofs the network and aligns with the NSW Government’s plan to reduce congestion. From day one of service the new light rail will carry up to 15 per cent more passengers during peak hour and provide 33 per cent more seats across the day. The Light Rail Vehicles will be separated from other traffic to ensure timetable reliability and efficient operations. The system will be operational and carrying passengers in early 2019.
Acciona Infrastructure will deliver the design and construction role in a joint venture with Alstom Transport. Transdev will fulfil the operations and maintenance role and Capella Capital will be the asset manager.