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Victoria high-capacity metro trains (HCMT) PPP

24/11/2016
PPP, Project development, Project finance
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A$ 2.3 billion

Announced

24/11/2016

Overview:

  • Victoria high-capacity metro trains (HCMT) PPP
  • The Victoria high-capacity metro trains (HCMT) PPP project will deliver 65 seven-car trains by 2023 for use on the Cranbourne and Pakenham lines, and two dedicated maintenance facilities.
  • The PPP contract with Evolution Rail was executed in November 2016, and is the first time the model has been used for rolling stock procurement in Victoria.
  • The PPP constitutes the biggest order of new trains in Victoria’s history. It is part of the Victorian Government's vision for an improved, world-class transport system.  

Adam Majeed - Regional editor

 

Jurisdiction:

Australia

Deal types:

PPP
Project development
Project finance

Practice areas:

Project finance
Project development
PPP/PFI

Governing law:

Australia

Industry sector:

Transport

Firms:
Ashurst

Party: Downer EDI Rail (Sponsor)

Party: CRRC Changchun Railway Vehicles (Sponsor)

Lawyers: David Jardine, Grant Rowlands, Lee McDonald

Clayton Utz

Party: Evolution Rail consortium (Sponsor, Project developer)

Lawyers: Brendan Groves, Joanna Pugsley, Marcus Davenport

Herbert Smith Freehills

Party: Governement of Victoria (Sponsor)

King & Wood Mallesons

Party: Bank of China Ltd (Lender)

Party: Bank of Communications Co Ltd (Lender)

Party: HSBC (Lender)

Party: ICBC (Lender)

Party: Intesa Sanpaolo (Lender)

Party: Mizuho Bank (Lender)

Party: UOB (Lender)

Party: Westpac (Lender)

Lawyer: Claire Rogers

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