John Laing achieves FC on the New Generation Rollingstock project in Queensland, Australia
John Laing, the specialist investor and manager of infrastructure assets, has achieved financial close, as part of a consortium led by Bombardier Transportation, a global leader in rail technology, on the New Generation Rollingstock (NGR) project in Queensland, Australia. The appointment which was made by the Queensland Government further enhances John Laing’s strategy of growing its portfolio of investments in the Asia Pacific market.
The project involves the provision and maintenance of 75 new six-car trains for a duration of 30 years for the South East Queensland suburban passenger rail network, and includes the construction and maintenance of a depot facility. The Department of Transport and Main Roads is delivering the project in partnership with Projects Queensland. Queensland Rail is providing technical expertise to integrate the new trains with the existing network. Testing of the first completed train is expected to commence in approximately two years.
Anthony Phillips, John Laing’s Head of Primary Investments, Asia Pacific, said: “This is a significant achievement for John Laing, not only because it builds upon our previous success in our key regional markets of Australia and New Zealand but also because financial close has been achieved in such a short space of time."
“Alongside our partners within the Bombardier consortium, we are looking forward to working with the Queensland Government to deliver new, sustainable rail services to commuters in South East Queensland
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