Gold Coast Light Rail PPP Reaches Financial Close

RNS Number : 0872I

International Public Partnership Ld

08 June 2011

 



8 June 2011

Gold Coast Light Rail PPP Reaches Financial Close

International Public Partnerships Limited (INPP) is pleased to announce that GoldLinQ, a consortium of which it is a member, has reached financial close on the Gold Coast Rapid Transit Project (GCRT) in Australia. This announcement is made further to the announcement made on 6 May that the consortium had been awarded preferred bidder status.

The GCRT is a A$1 billion, 18 year Public Private Partnership contract with the Queensland State Government to design, build, finance, operate and maintain a light rail public transportation system, between Gold Coast University Hospital and Broadbeach in one of the fastest growing regions in Australia.

The project includes 16 stations, a number of viaduct and bridge structures, as well as the provision and operation of 14 rail vehicles. The project has been designed to accommodate a peak daily usage of 75,000 passengers. The new light rail system is scheduled to open in 2014.

GoldLinQ Chairman, Mr John Witheriff, said, "The manner in which financial close was achieved is a testament to the quality of the project and the overwhelming support it has gained within the financing team."

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For further information:

Jamie Hossain                                       [phone]/0572
Amber Fund Management Limited                                

Hugh Jonathan/Nick Westlake                            [phone]/1345
Numis Securities       

Ed Gascoigne-Pees/Ed Berry                              [phone]/7297
Financial Dynamics

 Notes to Editors:

About International Public Partnerships (INPP):

International Public Partnerships Limited (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods.

Listed in 2006, INPP is a long-term investor in 61 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters and transport projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of more than 50 dedicated infrastructure specialists which originate and source a strong pipeline of projects for INPP.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

 

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