CIMIC Group companies, as part of the Pulse Consortium, have reached contractual close to deliver the tunnel, stations and development PPP package of Brisbane’s Cross River Rail project.
The Pulse Consortium, which includes CPB Contractors, Pacific Partnerships and UGL, will deliver tunnelling works, new underground stations and ongoing maintenance services for Cross River Rail.
The state government will provide a $5.4 billion capital contribution for construction.
According to a CIMIC Group statement, construction with commence later this year, with projected revenue to reach $2.73 billion.
“CIMIC Group has led the development of the project’s proposal, with lead sponsor Pacific Partnerships providing 49 per cent of the equity finance,” the statement reads.
“The remaining 51 per cent will be provided by DIF, BAM PPP PGGM and Ghella Investments & Partnerships.”
CIMIC Group CEO Michael Wright said CPB Contractors would deliver design and construction in a joint venture with Ghella, BAM International and UGL, with UGL providing project maintenance services over 24 years.
“CIMIC Group’s integrated approach to PPP projects is based on our end-to-end capabilities across a project’s life cycle,” Mr. Wright said.
“As Australia’s premier rail infrastructure and services provider, we will finance, design, construct and maintain the new tunnels and rail stations to deliver world class rail assets and services for south east Queensland.”