25th Feb 2015 08:31
LONDON (Alliance News) - Infrastructure investor John Laing Group PLC Wednesday said the ALTRAC Light Rail consortium has reached financial close on the South East Light Rail project in Sydney's Central business District.
ALTRAC Light Rail consists of Transdev Sydney, Alstom Transport Australia, Acciona Infrastructure Australia, Capella Capital and three equity investors through the ALTRAC Light Rail Partnership, comprising John Laing, First State Super and Acciona Concesiones.
John Laing's participation in the partnership is 32.5% and the company will make a GBP41 million investment in the project.
"We are delighted that Transport for New South Wales recognises the benefits of our proposals, which will deliver a world-class solution to provide reliable and high capacity tram services for Sydney commuters. Australia is a key market for John Laing and this fifth infrastructure investment in the region strengthens our local position and confirms our growth as a business," said John Laing Chief Executive Olivier Brousse.
Shares in John Laing were up 0.1% to 195.25 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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