TRANSGRID LEASE AND SYDNEY LIGHT RAIL PPP WIN INTERNATIONAL AWARDS

TRANSGRID LEASE AND SYDNEY LIGHT RAIL PPP WIN INTERNATIONAL AWARDS

The NSW Government has received international recognition for its successful $10.258 billion TransGrid lease and its innovative financing arrangement for the Sydney light rail project.

Treasurer Gladys Berejiklian welcomed news that the TransGrid transaction had won the Project Finance International (PFI) Asia-Pacific Mergers and Acquisitions (M&A) Deal of the Year Award and the FinanceAsia M&A Deal of the Year Award for Australia and New Zealand.

Ms Berejiklian also welcomed news that the Public Private Partnership (PPP) for the Sydney light rail project won FinanceAsia and PFI awards.

“These awards recognise the Government’s hard work in delivering on our record infrastructure spending – whether it is through asset recycling or through our partnerships with the private sector,” Ms Berejiklain said.

“The Government will continue to build new and productive infrastructure while maintaining fiscal discipline and strengthening our balance sheet.”

FinanceAsia praised the NSW Government for running an “efficient and transparent” TransGrid transaction while PFI said the lease was the “biggest project finance transaction in Australia this year”.

“We are focused on delivering the best possible value for money for the people of NSW through our poles and wires leases and these awards are another tick of approval for the outstanding result we have achieved so far,” Ms Berejiklian said.

FinanceAsia said “the light rail transport link through the middle of Sydney’s busiest street will transform access to the city’s CBD” while PFI said the project would “transform the future of transport in Sydney”.

The FinanceAsia award ceremony will be held on February 2 in Sydney and the PFI awards will be presented in London on February 3.

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