Two wins for Toowoomba Second Range Crossing
Published 04 March 2016
TOOWOMBA, QUEENSLAND: The Toowoomba Second Range Crossing project has been awarded its second major award this year, the 2015 IJGlobal Asia Pacific Deal of the Year.
The Nexus consortium was presented the award at the IJGlobal Asia Pacific Energy and Infrastructure Finance Forum in Singapore this week.
Last month the project was awarded 2015 Road Deal of the Year by Project Finance International at an award ceremony in London.
Plenary Group Managing Director Paul Oppenheim said he was pleased to receive global recognition for the work by Plenary and consortium partners.
“The Toowoomba Second Range Crossing is an exciting project for Plenary as it is our first road project in Australia,” Mr Oppenheim said.
“To have it recognised as the best deal in Asia Pacific last year is a great achievement by Plenary and all Nexus consortium partners.”
Mr Oppenheim said the 41-kilometre bypass will ensure freight efficiencies and significantly improve driver safety and community amenity, and has the potential to increase the economy in the local area by up to A$2.4 billion over 30 years.
The project – the largest Australian Government commitment to a single road project in Queensland’s history – is currently underway and is expected to be completed at the end of 2018.
The Australian and Queensland Governments are jointly funding the $1.6 billion Toowoomba Second Range Crossing project on an 80:20 basis.
Plenary Group is part of the Nexus Infrastructure consortium who will finance, design, construct, operate and maintain the project for a 25-year concession post-completion.
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