Netflow preferred for $1.8b Western Roads Upgrade
Published 03 November 2017
Netflow, a Cintra and Plenary joint venture, today welcomed its appointment as preferred respondent for the Western Roads Upgrade project, an availability-style public-private partnership that is the first of its kind for Australia.
The $1.8 billion project is the largest single investment in arterial roads in Australia to date and includes eight high-priority road upgrades, almost 30 kilometres of duplicated lanes and more than 700-lane-kilometres of road rehabilitation and maintenance for 20 years across Melbourne’s west.
Netflow Managing Director Phil Dreaver welcomed the Victorian Government’s announcement, marking Netflow’s first major project since its inception less than 12 months ago.
“It demonstrates Netflow can offer governments an innovative and best-practice approach that harnesses our extensive global roads and asset management experience,” Mr Dreaver said.
“We look forward to partnering with the Victorian Government and VicRoads to deliver a project that will transform Melbourne’s western suburbs.”
The Netflow consortium combines a multi-tiered team of Australian and international road construction and maintenance experts:
Cintra and Plenary as joint project sponsor and SPV manager;
Plenary as financial arranger
WBHO Infrastructure as design and construction lead;
local contractors Ace, Civilex, Fortunato, Negri and Winslow; and
the Amey and Broadspectrum joint venture as services contractor.
Netflow now enters a period of exclusive negotiations with the Victorian Government to verify project details and achieve financial close.
Formed in late-2016, Netflow is a joint venture between Cintra and Plenary with a focus on road projects in Australia and New Zealand. It brings together two of the largest developers and managers of infrastructure globally to provide competitive offerings for road projects including static and dynamic tolling, user recognition and managed lanes. Cintra and Plenary are also part of the Nexus Infrastructure consortium delivering the A$1.6 billion Toowoomba Second Range Crossing project.
Cintra is one of the largest developers and investors in transport infrastructure in the world, managing more than A$30 billion of assets including 26 road concessions across Australia, the US, Canada, Europe and South America. Cintra has delivered technical and financial solutions for some of the world’s largest infrastructure projects, applying cutting-edge technology and design innovation to minimise financing, construction and operational costs. Assets under management include the US$3.6 billion 407 ETR toll road in Toronto, and the US$2.6 billion LBJ Express and US$2.1 billion North Tarrant Express managed lanes projects in Texas.
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