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QIC part of Melbourne road consortium
QIC Global Infrastructure has announced it will be part of the consortium responsible for the development and running of Melbourne's East West Link Stage 1 toll road and tunnel project.
The public-private partnership (PPP) project includes QIC and John Laing as investors, along with Lend Lease, Acciona and Bouygues, and Capella Capital as financial adviser and bid leader.
The consortium will look after the design, build, financing and operation of the East West Link.
Head of Global Infrastructure Ross Israel said the project is an opportunity for QIC to build its reputation in the road sector following the sale of Queensland Motorways.
The East West Link will operate under a 30-year availability-based concession, with five years for construction and 25 years for operations.
The Victorian Government forecasts 3,700 people will be employed on the project and it will provide for 100,000-120,000 people by 2031.
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