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Sydney Light Rail Project Reaches Financial Close.

26 February, 2015

 

With Ashurst as legal advisers, Transport for NSW (TfNSW) has achieved financial close on its contract with the ALTRAC consortium for the design, construction, operation and maintenance of the new AUD 2.1bn Sydney CBD and South East Light Rail (CSELR) line.

 

The NSW Government had announced in October that the consortium, consisting of Alstom, Transdev, Acciona and Capella Capital, was the preferred bidder for the project which would see a light rail line run from Circular Quay along George Street to Moore Park, then on to Kingsford and Randwick.

 

The Ashurst team was led by Lee McDonald, and included partners Harvey Weaver, Gareth Sage and Murray Wheater.

 

Ashurst lead partner on the matter, Lee McDonald said: “Light rail is a significant part of the future of transport in Sydney and Ashurst is delighted to have advised on this priority project for the NSW Government.

 

“We are pleased to have successfully assisted TfNSW to deliver the project to market in a very short timeframe, particularly given the complexity of the matter.”

 

Ashurst’s role involved:

 

  • providing strategic procurement and structuring advice in relation to the project;
  • preparing EOI, RFP and contract documentation for the PPP and early works packages;
  • assisting with the development and negotiation of third party agreements with land owners and other key stakeholders;
  • property law aspects including the compulsory acquisition of Olivia Gardens; and
  • providing legal advice on road and rail issues, including advice on theRail Safety National Law (NSW) No 82a and the Roads Act (1993).

 

The Sydney Light Rail Project will be delivered as a PPP involving the finance, design, construction, testing and commissioning of a new light rail line between the CBD and south east Sydney, and the operation and maintenance of the Sydney Light Rail network, which includes the new CSELR and existing inner west light rail.

 

The CSELR project received planning approval on 4 June 2014 and early works began in August 2014. Major construction is expected to commence after Anzac Day 2015 with the system open and operational in 2019.

 

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