15th Apr 2015 07:01
LONDON (Alliance News) - Infrastructure investor John Laing Group PLC on Wednesday said the East West Connect consortium has reached a deal with the Victoria state government in Australia on a heads of agreement for the East West Link project.
The agreement will allow the state government to acquire the East West Connect project companies for a nominal consideration and will allow the sponsors of the projects companies to cease work on the project.
John Laing Group said it expect the GBP60.7 million investment it made in the consortium, in which it held a 30% stake, to be returned in full.
The company said it does intend to pursue future projects in Victoria.
By Sam Unsted; [email protected]; @SamUAtAlliance
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