Marubeni Participates in Stage 3 of the Gold Coast Light Rail PPP
Apr. 04. 2022
On March 30 2022, Marubeni Corporation (hereinafter, “Marubeni”) reached financial close on the procurement of Stage 3 of the Gold Coast Light Rail PPP (the “Project”). Marubeni retains a 30% interest in the Project as an investor in GoldlinQ Holdings Pty Ltd(*) (hereinafter, “GoldlinQ”). GoldlinQ is the consortium that has delivered the design, construction, finance, operations and maintenance of the project since the Stage 1 procurement in 2011.
The Gold Coast Light Rail is an iconic project, where Stages 1 and 2 have become a popular and sustainable part of the public transport network on the Gold Coast for both visitors and locals, carrying more than 60 million passengers to date.
The Project will extend the current light rail network, which operates over 20km of track and 19 stations through the Gold Coast, from Broadbeach in the South to Helensvale in the North. Stage 3 will deliver a 6.7km extension to the south, from Broadbeach to Burleigh Heads, adding an additional 8 stations to the network. It will also include an upgrade and expansion of the existing depot and stabling facilities, new light rail-bus connections at Burleigh Heads and Miami, and supporting works and improvements, including signalised traffic intersections and upgrades, new signalised pedestrian crossings, and upgraded pedestrian and cycle facilities.
Marubeni continues to develop its transportation and social infrastructure PPP business in Australia, which includes participation in projects such as Sydney Metro Northwest(*) and the Sydney Metro City and Southwest Projects. Growth in sustainable mass transit and urban rail projects is expected to continue in Australia, and Marubeni will strive to expand its long-term commitment to transportation and social infrastructure in the country as a trusted partner.
(*)30% of the shares in GoldlinQ for Stage 1 & 2 of the project and 20% of shares in NRT Pty Ltd. for Sydney Metro Northwest were transferred from Marubeni to “MM Capital Infrastructure Fund I, L.P.” in 2019, which is operated by “MM Capital Partners Co. Ltd.”, a subsidiary of Marubeni.