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TOKYO, May 17, 2016 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that Canberra Metro PC Pty Ltd (Canberra Metro), a joint stock company established by MC, Pacific Partnerships (Australia), John Holland (Australia) and Aberdeen Infrastructure Investments (United Kingdom), has signed an agreement with the Australian Capital Territory (ACT) Government for a concession to undertake Light Rail Transit (LRT) operations in Canberra under a public-private partnership (PPP) scheme.
 | | Mitsubishi Corporation (MC) is pleased to announce that Canberra Metro PC Pty Ltd, a joint stock company established by MC, Pacific Partnerships (Australia), John Holland (Australia) and Aberdeen Infrastructure Investments (United Kingdom), has signed an agreement with the Australian Capital Territory (ACT) Government for a concession to undertake Light Rail Transit (LRT) operations in Canberra under a public-private partnership (PPP) scheme. |
In January 2016, the consortium comprised of eight companies, including the four mentioned above, was selected as a preferred proponent, resulting in the contract now being signed by Canberra Metro.
The project covers construction, as well as operation and maintenance for 20 years, of a 12-kilometer LRT system with 13 stops between central Canberra and Gungahlin in the north. Manufacturing, supply and maintenance of rolling stocks will be the scope of CAF, one of the largest rolling stock suppliers in Spain, while construction work will be done by CPB Contractors and John Holland, major Australian construction companies. DB Engineering & Consulting GmbH, a subsidiary of German national railway company, Deutsche Bahn, will also be selected as a partner for the operation and maintenance of the whole LRT system.
The project has been listed in the first phase of plans for LRT network development in Canberra, and is being promoted as one of the ACT Government's top priorities. Through Canberra Metro, MC will be seeking to provide a safe and on-time public transportation service that is environmentally friendly in keeping with the abundance of greenery in Canberra, while at the same time contribute to improving convenience for residents and stimulating economic activity in the country's capital.
This is MC's first project in the railway operations business, and stands to bolster the company's efforts to develop other railway PPP projects in Australia. MC already has extensive experience and expertise in this field, built up through rolling stock exportation, EPC3 contracts and other infrastructure projects related to airports, seaports, power generation and water. Drawing on these experiences, MC will actively continue to seek opportunities to enter the railway operations business and to expand the base of its infrastructure business around the world.
1. Light Rail Transit (LRT): An electrical tramway operated inside an urban area. LRT is an eco-friendly system which emits less CO2 than cars and diesel buses and is easy to design for harmonization with urban landscape.
2. Public Private Partnership (PPP): A contractual scheme under which public services are developed and delivered through public sector and private sector collaboration. PPP aims to provide public services in an efficient and effective way by utilizing private sector know-how for the design, construction, operation and maintenance of public works.
3. EPC: Engineering, Procurement and Construction; a single contract which includes these scopes.
Consortium Members
1. Pacific Partnership (Australia)
2. John Holland (Australia)
3. Mitsubishi Corporation (Japan)
4. Aberdeen Infrastructure Investments (United Kingdom)
5. CPB Contractors (Australia)
6. DB Engineering & Consulting (Germany)
7. Construcciones y Auxiliar de Ferrocarriles (Spain)
8. The Bank of Tokyo-Mitsubishi UFJ (Japan)
Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705
Topic: Press release summary
Source: Mitsubishi Corporation
Sectors: Logistics & Supply Chain
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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