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Tue October 15 2019

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Deal closed for Brisbane rail project

3 Jul Financial close has been reached on the multi-billion-dollar Cross River Rail project in Brisbane, Australia, clearing the way for the start of construction.

The Pulse consortium of BAM PPP PGGM, Pacific Partnerships, DIF and Ghella Investments & Partnerships - have reached financial close with the state of Queensland to deliver the project’s tunnel, stations and development (TSD) package.

The Cross River Rail involves the design and construction of a new 10.2km rail line, including 5.9 km twin tunnels under the Brisbane River and the central business district (CBD). The state government is providing a capital contribution of AU$5.4bn for the project’s construction.

BAM International, together with sister companies BAM Nuttall and Wayss & Freytag Ingenieurbau, will deliver the design and construction in a joint venture with CPB Contractors, Ghella and UGL. UGL will provide the ongoing maintenance services. Construction is expected to start later this year. BAM’s revenue is approximately €100m per year for an expected contract period of five years.

The winning team had been announced in April.

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