John Laing Group has announced a A$630 million ($488 million) refinancing of existing debt facilities for its New Generation Rollingstock (NGR) project.
The project is being delivered by a consortium known as Qtectic — which consists of John Laing, Aberdeen Standard Investment, Itochu and Alstom — in partnership with the Department of Transport and Main Roads. It is operated by Queensland Rail.
The NGR project comprises the provision and maintenance of 75 new electric six-car trains for the South East Queensland suburban passenger rail network in Australia, for a duration of 30 years. It also includes the construction and maintenance of a depot facility.
John Laing said the NGR project meets the climate bonds standard low-carbon transportation criteria and will help to avoid greenhouse gas emissions from alternative modes of transport. The debt facilities were refinanced with a Green Loan with Climate Bond Initiative certification.
