MERCED, CALIFORNIA and MELBOURNE, AUSTRALIA: Two Plenary Group projects have been recognised among the world’s best with UC Merced 2020 named the Americas P3 Deal of Year and High Capacity Metro Trains winning Asia Pacific Rail Deal of the Year at the 2016 PFI Awards.
Part of the Thomson Reuters Awards for Excellence, the PFI Awards celebrate high-performance and achievement in the global project finance industry.
The US$1.3 billion UC Merced 2020 project is a 1.2 million-square-foot campus expansion and redevelopment project on the UC Merced campus that will nearly double capacity by 2020. The project is the first in the UC system to use a single private development team for a multi-year, multi-building project of this scope.
Plenary is the financial adviser and 100 per cent equity investor. Financial close was achieved in August and the first sod was turned on the project in October.
The A$2 billion High Capacity Metro Trains project includes the delivery of 65 new high capacity trains, and the construction of two new maintenance facilities, for Melbourne’s rail network. The trains will be among the world’s best in terms of quality, technical design, safety and capability.
Plenary is the project sponsor, financial advisor, financial arranger, asset manager and investor for the project, and is part of the Evolution Rail consortium contracted to deliver and maintain the trains over the next 35 years. Financial close was achieved in November, and the first of the new trains is expected to come into service in mid-2019.
The awards will be presented in London in February 2017.
Director, Corporate Affairs
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