Australia’s ACT Government has finalised a contract with the Canberra Metro consortium to build the city’s first light rail system.

The PPP contract award, which has an estimated capital cost of $A 710 million, includes the construction of the first 12-kilometre phase of the light rail line and procurement of 14 new trams.

The ACT Government will be contributing $375 million, which will be primarily funded through the sale ACT Government assets, including its betting agency ACTTAB.¬†Financial close will be achieved “in the coming weeks”, the ACT Government said in a statement.

Over the course of 20 years, the ACT Government will make annual payments to cover certain operational costs, averaging around $64 million a year.

The Canberra Metro comprises Pacific Partnerships, CPB Contractors, John Holland, Mitsubishi Corporation, Aberdeen Infrastructure Investments, Deutsche Bahn International and CAF.

Canberra Metro will begin operating passenger services in early 2019.

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here