Marubeni Participates in Light Rail project in Gold Coast City, Australia
Jun. 10. 2011
Marubeni Corporation and Marubeni Australia Ltd (collectively ‘Marubeni Group ‘) have jointly acquired 26.67% of GoldlinQ Holdings Pty. Ltd. (herein ‘GoldlinQ’). GoldlinQ was selected by the Queensland State Government (herein ‘the State’) as the successful proponent for the Operator Franchise of the Gold Coast Rapid Transit Project (herein the Project). GoldlinQ has entered into an 18 year Public Private Partnership (herein ‘PPP’) contract with the State to design, build, finance, operate and maintain a light rail public transportation system on the Gold Coast.
Consisting of 14 modern and efficient light rail vehicles (herein LRVs) and 16 stations, the Project will service a 13 kilometre route through the beachside city while contributing to the improvement of public transport amenity in an environmentally sustainable manner. The PPP requires GoldlinQ to operate and maintain the light rail system including the fleet of LRVs for a period of 15 years following completion of construction works. Extensions to the project are planned to the north and south of the existing route.
The project value is approximately AU$ 1 Billion, with AU$365 million contributed from private banks. Investors in GoldlinQ comprise Marubeni Group, Plenary Group, IPP Australia, Aveng Australia and Keolis SA. Marubeni Group has been working with GoldlinQ since the Expression of Interest (EOI) phase of the project and is delighted to be acknowledged for its experience and capability in large scale transportation projects and its commitment to sustainability and long term local partnerships.
LRVs will be manufactured and supplied by the world’s leading supplier of rail transport systems, Bombardier. Design & Construction of major structures and track will be performed by leading Australian engineering & civil construction firm Mc Connell Dowell. Construction works will be executed over 3 years, with services expected to commence in 2014.
Since entering the locomotive & wagon leasing business in Australia in 2009, Marubeni has sought to expand its presence in the Australian rail sector. Marubeni will continue to seek new business opportunities in the environmentally sustainable sector of rail transportation in Australia and other nations.
|Company Name:||GoldlinQ Holdings Pty. Ltd.|
|Location:||Gold Coast City, Queensland, Australia|
|Date of Establishment:||May 2011|
|Shareholders:||Marubeni Corporation, Marubeni Australia Ltd:26.67%|
About Marubeni Corporation
Marubeni Corporation is a Japanese company listed on the Tokyo/Osaka/Nagoya exchanges. Founded in 1858 with assets of US$55Billion, Marubeni owns and manages businesses across a wide range of industrial sectors throughout the world. Marubeni’s commitment to sustainable investment was recognised again this year when it was awarded the SAM “Sector Leader” and “Gold Class” awards for the second consecutive year. These awards confirm Marubeni’s integrated risk management approach to environmental and social impact assessment in its investment decisions.
Marubeni has extensive expertise and knowledge in the rail sector. It is a leader in railway turnkey solutions, having managed the development of large-scale transport infrastructure projects in Asia, South America and the Middle East, a number of which are currently in the delivery phase. It continues to manage the supply of an extensive range of rolling stock, including passenger EMUs and freight diesel electric locomotives, in addition to its track record of delivering rolling stock manufacturing plant and maintenance workshops to various Railway Operators across the globe.
In Australia, Marubeni and its joint venture partner CFCL Australia is the leading supplier of leased locomotives and rolling stock to Australian freight rail operators. Through its subsidiaries and joint ventures, Marubeni is involved in the management of a combined fleet of over 10,000 wagons and 43 locomotives in the US and Australia.
Marubeni is well positioned in the PPP market with strong credentials as a partner, manager, financier and deliverer of large scale projects.
From strong foundations of having delivered large-scale transportation projects, Marubeni is able to actively manage the long-term interests of projects by overseeing and monitoring the performance of projects during delivery and operations phases. Marubeni values long term partnerships with transport sector clients, and will continue to seek opportunities where it can enhance the value proposition of transport projects.
About Marubeni Australia Limited and the Marubeni Group in Australia
Established in 1960, Marubeni Australia Limited (MAL) is a wholly owned subsidiary of Marubeni Corporation. With its head office in Sydney, and offices in Melbourne, Perth, the company is both an investor in and trader of a wide variety of products through business units in Iron Ore, Non-Ferrous & Light Metals, Forrest Products, Machinery, Agricultural Produce, Chemical Products, Renewable Energy Solutions and Petroleum Products. Across Australia the Marubeni Group maintain extensive investments through subsidiary companies and joint ventures in power generation, including wind; power transmission; gas transmission; aluminium production; coal mining operations; automotive vehicle sales & service; tyre distribution; agricultural & construction equipment, mining & construction machinery, cattle feedlots, forestry, salt production and locomotive & railcar leasing. Marubeni Group company, Marubeni Coal Limited is an investor in 6 operational mines in Queensland with a total investment value of over AU$670 Million.