Road Deal of the Year for Toowoomba Second Range Crossing project
Published 08 February 2016
QUEENSLAND, AUSTRALIA - The Toowoomba Second Range Crossing (TSRC) project – Queensland’s highest priority road infrastructure project – has been awarded the 2015 Road Deal of the Year by Project Finance International (PFI).
Plenary Group is a sponsor, financial adviser and equity provider on the project and forms part of the Nexus Consortium that was chosen to finance, construct, operate and maintain the project for a 25-year concession post-completion.
The Australian and Queensland Governments are funding the delivery of the $1.6 billion TSRC. It is a 41km-long toll road, bypassing Toowoomba City to the north and connecting the Warrego Highway at Helidon Spa in the east with the Gore Highway at Athol in the west, via Charlton.
Plenary Group Managing Director Paul Oppenheim said receiving the recognition from PFI was a great achievement for the Nexus Consortium and Plenary Group.
“The Toowoomba Second Range Crossing is an incredible project for Queensland, which will considerably improve the State’s economy and provide employment for more than 1,800 local workers,” Mr Oppenheim said.
“The bypass will assist in ensuring driver safety and will drastically increase transport efficiencies by diverting 80 per cent of freight away from the Toowoomba CBD, while contributing to an enhanced liveability in the area.”
Mr Oppenheim said the bypass will be a driver for economic development in Queensland.
Construction has begun on the project and is expected to be completed at the end of 2018.
The award was presented to the Nexus Consortium on 3 February at a ceremony in London.
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