Toll Roads
We have acted for the successful consortia in five of the eight Australian tollroads over the last 14 years. These include acting for:
- Rivercity Motorway Limited on the Brisbane North South Bypass Tunnel.
- ConnectEast Limited on Melbourne’s Mitcham Frankston Motorway.
- Westlink Motorway Limited on the M7 Motorway in Sydney.
- Airport Motorway on the Eastern Distributor (M1) Sydney.
- Hills Motorway Limited on the M2 Motorway in Sydney.
We also act for the lenders to the Cross City Tunnel, Sydney and for the main equity investor in the Lane Cove Tunnel, Sydney.
NSW RailCorp Rolling Stock PPP
We advised the lenders on the financing, design, construction and maintenance of the A$3.6 billion NSW RailCorp Rolling Stock PPP. The project involves design, construction and maintenance of a total of 626 passenger rail carriages on Sydney’s CityRail network and the design and construction of a major new rail maintenance facility. It is the largest rolling stock acquisition in the country’s history.
Darwin City Waterfront redevelopment
We acted for the Northern Territory Government on the $1 billion+ project to redevelop Darwin’s city waterfront. The Northern Territory Government’s objective was to transform 25 hectares of previously industrial waterfront land and adjacent waters into a world class development for Darwin people to use and enjoy and to enhance Darwin as a destination.
Newcastle Mater Hospital PPP Project
We acted for the Novacare Consortium in its initial bid, through the rebid process and its appointment as preferred bidder, to the final negotiations with government and completion. Our team consisted of partners and lawyers in our Melbourne and Sydney offices with project finance, construction, tax and corporate expertise. We advised on all aspects of the transaction including construction, ongoing facilities management, interface issues, debt financing, equity structuring and tax, and carried out due diligence.
Chatswood Transport Interchange
We acted for the design and construction contractor, Barclay Mowlem, and the project underwriters, Babcock and Brown and Walker Corporation on this major rail infrastructure project. The transaction involves the redevelopment of one of Sydney’s major suburban railway stations into a large mixed use development whilst keeping the railway station and line operative at all stages. It is one of New South Wales’ largest public-private partnership deals.
Royal Women’s Hospital redevelopment PPP
We advised the Bilfinger Berger and Macquarie consortium on its successful bid to deliver and operate the A$250m Royal Women’s Hospital redevelopment PPP in Melbourne. The redevelopment involves the financing, design, construction and commissioning of a new public hospital, an integrated private hospital facility, and retail and car parking areas followed by the management of the facility (excluding core clinical services at the hospital) for 25 years.
Braemar Power Station Project
We acted for Babcock & Brown Australia, ERM Limited and their joint venture, Braemar Power Project Pty Ltd in developing and negotiating the documentation for a greenfield project financed 450 megawatt gas fired power station in Queensland. Unusually for a $300 million+ power station project, the transaction uses a “synthetic” power purchase agreement using a mixing of floors, caps, collars and other instruments, and innovative gas procurement and storage arrangements, while still retaining the ability to attract project finance. Going forward, the project must achieve an aggressive time frame to meet Queensland's expected peak power load requirements.
Redevelopment of the Royal Melbourne Showgrounds
We advised PPP Solutions, a consortium of Babcock & Brown and Multiplex, as the successful bidder to redevelop the Royal Melbourne Showgrounds in a public-private partnership with a joint venture comprising the Victorian Government and the Royal Agricultural Society of Victoria. The existence of the joint venture and the nature of the activities to be conducted at the Royal Melbourne Showgrounds created some unique and complex issues in adopting the public-private partnership model to fund the redevelopment. We were involved in all aspects of the transaction including the agreements with the joint venture, the documentation in relation to the construction and facilities maintenance services to be provided by PPP Solutions and the financing of the redevelopment.
Papa New Guinea (PNG) gas project
We represented the PNG government in all aspects of this US$4 billion gas recovery, pipeline project for the export of natural gas from the Southern Highlands of PNG to Australia due to commence development 2006/2007. The project is PNG’s largest infrastructure development ever.
Nam Theun 2 US$1.45 billion project
We advised the Laos Government on the Nam Theun 2 project, a US$1.45 billion project to build and operate a dam, powerhouse and transmission line, in the Khammouane, Bolikhamxay and Savannakhet Provinces in central Laos. The project will generate an average US$235 million each year of gross revenue from electricity export to Thailand. We negotiated and drafted the concession agreement establishing the framework by which the project can be financed, developed and operated, including the environmental and social obligations to apply to the project.
Sunshine Electricity Renewables project financing
We acted for the three project financiers on the Sunshine Renewable Energy joint venture financing. Two separate cane trash fired co-generation power stations were developed and funded using the value of the supply of steam and energy to adjoining sugar mills and exporting electricity to the New South Wales grid as well as creating renewable energy certificates.