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 tunneling 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 June 30, 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 percent of the equity finance, with the remaining 51 percent 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’s integrated approach to PPP projects is based on our end-to-end capabilities across a project's lifecycle,” said Michael Wright, CEO of CIMIC Group. “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.”
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.
