CIMIC Group companies finalise Cross River Rail PPP package
CIMIC Group companies, Pacific Partnerships, CPB Contractors, and UGL, as part of the Pulse consortium, have reached contractual close with the State of Queensland to deliver the Tunnel, Stations and Development PPP package of Brisbane’s Cross River Rail project.
The Pulse consortium will deliver tunnelling works, new underground stations, and ongoing maintenance services for Cross River Rail, South East Queensland’s largest infrastructure project. The State Government is providing a $5.4 billion capital contribution for construction.
Revenue to the CIMIC Group is approximately $2.73 billion. Contractual close occurred on 30 June 2019, with construction to commence later this year.
CIMIC Group has led the development of the project’s proposal, with lead sponsor Pacific Partnerships providing 49% of the equity finance, with the remaining 51% to be provided by DIF, BAM PPP PGGM and Ghella Investments & Partnerships.
CPB Contractors will deliver the design and construction in a joint venture with Ghella, BAM International and UGL. UGL will also provide maintenance services for the project over 24 years.
CIMIC Group Chief Executive Officer Michael Wright said: “CIMIC Group's integrated approach to PPP projects is based on our end-to-end capabilities across a project's life cycle. As Australia’s premier rail infrastructure and services provider, we will finance, design, construct and maintain the new tunnels and rail stations, in partnership with the State Government, to deliver world class rail assets and services for South East Queensland.”
Pacific Partnerships Managing Director Martin D’Uva said: “Pacific Partnerships and the wider CIMIC Group companies are focused on providing certainty of delivery and operational performance for the Cross River Rail project and ensuring customers benefit from a safe, efficient rail service.”
UGL Managing Director Jason Spears said: “As Australia’s leading provider of mechanical and electrical works and rail maintenance services, we're committed to working with the Cross River Rail Delivery Authority as a long-term partner and providing ongoing employment and business opportunities for the local community.”
CPB Contractors Managing Director Juan Santamaria said: “CPB Contractors’ experience delivering high-quality rail construction across Australia equips our team to safely deliver this important project for South East Queensland, meeting operational requirements, delivering value and achieving the project's objectives.”
CIMIC Group companies CPB Contractors and UGL have also been chosen by the Queensland Government as preferred contractors in an Alliance partnership to deliver the Rail, Integration and Systems (RIS) package of the Cross River Rail project.