CIMIC Group companies Pacific Partnerships, UGL and CPB Contractors, as part of the Momentum Trains consortium, have been selected by Transport for NSW to deliver the $1.26 billion Regional Rail Project as a design, build, finance and maintain contract.
The consortium will deliver a new regional rail fleet and a new maintenance facility in Dubbo, New South Wales.
CIMIC Group has led the consortium’s development of the project, with Pacific Partnerships providing leadership and equity financing for the contract term. CPB Contractors will design, construct and commission the maintenance facility at Dubbo, while UGL will maintain both the fleet of 117 rail cars and the maintenance facility.
The consortium includes Construcciones y Auxiliar de Ferrocarriles (CAF), who will manufacture the rail cars, as well as CAF Investment Projects and independent fund manager DIF, both of whom are also providing equity financing alongside Pacific Partnerships.
The project will generate revenue to CIMIC Group of approximately $725 million over the construction and initial 15-year maintenance term.
The project is expected to commence in early 2019, with the first trains to enter service progressively from 2023.