HOCHTIEF AG 29.11.2019
The Northwest Rapid Transit Consortium (NRT), including CIMIC Group companies UGL and Pacific Partnerships, have reached contractual close for the extension to the existing NRT Public Private Partnership (PPP) contract on Sydney Metro.
The contract, which was awarded in 2014, has been extended by Sydney Metro to deliver a seamless customer experience on the new metro system, with NRT to operate and maintain the full metro line from Rouse Hill to Bankstown - in total 66 kilometres of rail and 31 metro stations.
The PPP contract includes UGL delivering the radio system and, through its stake in Metro Trains Sydney, extending its existing services on the newly-opened Metro North West Line to include the under-construction Sydney Metro City & Southwest line for a period of 10 years commencing from 2024. These contracts will deliver revenue to CIMIC Group of approximately $366 million.
As an existing investor in the Metro North West Line operations contract, Pacific Partnerships will provide a further equity investment to the NRT PPP.
CIMIC Group Chief Executive Officer Michael Wright said: 'Sydney Metro aligns well with CIMIC Group's unique offering as an integrated rail solutions provider. This contract award will allow us to continue our work in delivering a world class metro rail network for the Greater Sydney region.'
UGL Managing Director Jason Spears said: 'UGL is Australia's leading provider of mechanical and electrical works and rail maintenance and operations services, and we're delighted to continue our work on the Sydney Metro network.'
Pacific Partnerships Managing Director Martin D'Uva said: 'Pacific Partnerships is pleased to provide further investment into the Sydney Metro project, a world class metro rail network and to support the CIMIC Group to deliver Sydney's public transport infrastructure. This $3.7 billion contract package includes $1.7 billion for new metro trains and core rail systems as well as $2 billion in operations and maintenance.'
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Hochtief AG published this content on 29 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2019 09:17:02 UTC
