Leighton is part of the Wellington Gateway Partnership (WGP), which will finance, design and construct the project, and then operate and maintain the 27km motorway from 2020 for a period of 25 years. The contract value to Leighton Contractors is approximately NZ$800 million.
The project is New Zealand’s first state highway to be delivered as a PPP. Financial close follows WGP’s selection as the preferred bidder in December 2013.
Leighton Holdings executive chairman and chief executive officer Marcelino Fernández Verdes said: “This award evidences the strong pipeline of work we are seeing, as governments continue spending on infrastructure, underpinning an increase in PPPs. The Leighton Group is committed to assisting governments with solutions for expanding modern sustainable transportation infrastructure and we will seek to take on roles as an equity participant, contractor and asset manager.”
WGP includes Leighton Contractors, HEB Construction, InfraRed Capital Partners, Bank of Tokyo-Mitsubishi UFJ (BTMU) and the Accident Compensation Corporation.