East West Connect to deliver Australian toll road

East West Connect consortium has signed a contract with the Victorian government to deliver the US$6.99 billion (AUD 8 billion) East West Link toll road in Australia. The $4.62 billion (AUD 5.3 billion) partnership was agreed after the High Court rejected an application for an injunction to defer the deal. The project's winning design incorporates two 4.4km three-lane tunnels between CityLink and Hoddle Street. The consortium, which includes Lend Lease, Acciona, Capella Capital and Bouygues, has spent some
October 2, 2014 Read time: 1 min
East West Connect consortium has signed a contract with the Victorian government to deliver the US$6.99 billion (AUD 8 billion) East West Link toll road in Australia. The $4.62 billion (AUD 5.3 billion) partnership was agreed after the High Court rejected an application for an injunction to defer the deal. The project's winning design incorporates two 4.4km three-lane tunnels between CityLink and Hoddle Street. The consortium, which includes Lend Lease, 976 Acciona, Capella Capital and 979 Bouygues, has spent some $34.93 million (AUD 40 million) on the project to date. The contracts also include a $436.69 million (AUD 500 million) kill fee to protect it from sovereign risk.

Highway & Network Management

For more information on companies in this article

Related Content

  • Spanish highway project to get EIB A-rated bond issue?
    April 20, 2012
    The European Investment Bank (EIB) is reported to be in talks with the sponsors of the A-66 Benavente-Zamora highway public private partnership (PPP) in Spain over a possible bond financing deal, which would see the Bank provide subordinated debt for an A-rated bond issue. The possible bond issue would be a further greenfield project to launch the European Union’s Project Bond 2020 initiative, with its initial pilot stage being managed by the EIB.
    Read More
  • Bertha restarts work on Seattle’s Alaskan Highway Viaduct project
    September 19, 2016
    Bertha, the tunnelling machine that is making its way under the US city of Seattle, has restarted work after nearly three weeks of scheduled maintenance downtime. The machine has been sitting more than 51m underground while crews replaced of 14 large cutting tools, according to the Washington State Department of transportation. Each tool weighs just under 275kg. Bertha - as the SR 99 tunnelling machine is called – is working on the Alaskan Way Viaduct Replacement Program. The Alaskan Way is an elevate
    Read More
  • Australia responds to infrastructure funding challenge
    July 13, 2012
    The Global Financial Crisis (GFC) has drastically changed the way governments and the private sector is prepared to procure vital infrastructure projects, says Philip Davies Governments have responded to the GFC by focusing on long term investment in transport infrastructure and shorter term stimulus packages to kick-start economies. As these projects proceed, the focus will shift to maintaining and achieving maximum benefits from assets and future infrastructure funding. The Public Private Partnership (PP
    Read More
  • Ferrovial loses control of Canada’s 407 Express Toll Road
    August 27, 2019
    Ferrovial has lost control of the 407 International highway in Canada, one of the Spanish group's star assets. The Supreme Court in the province of Ontario has ruled in favour of co-shareholder pension fund Canada Pension Plan Investment Board to buy another stake - 10.01% - in the highway. The shares are up for sale by another shareholder, Montreal-based global infrastructure engineering firm SNC-Lavalin. The court denied Ferrovial, which already has the largest shareholding at 43% in the highway, th
    Read More

Highlighted Content