| Code: 78538 |

TIN news:   The Canberra Metro consortium has secured a contract from the Australian Capital Territory (ACT) Government to design, build and operate the first stage of the Capital Metro light rail project.
Work under the deal will include construction of a 12km light rail route from Gungahlin to the city with 13 stations.
The first stage will also include a depot, road, signalling and preparatory works, as well as ongoing operation and maintenance of the light rail system.
"Canberra Metro was one of two international consortia shortlisted for the public-private partnership contract last year."
The consortium comprises Pacific Partnerships, John Holland, Mitsubishi, Aberdeen Infrastructure Investments, CPB Contractors, Deutsche Bahn International, CAF and the Bank of Tokyo - Mitsubishi UFJ (BTMU).
Canberra Metro was one of two international consortia shortlisted for the public-private partnership (PPP) contract last year.
The final cost of the contract will be confirmed upon signing and is expected to be within 5% of the consortium's bid of A$698m ($494m).
The first phase construction is scheduled to start in the coming months and due to be completed in late 2018.
Passenger services are expected to be initiated in early 2019, following which services would run at peak frequencies of six minutes.
The light rail will integrate with buses and other forms of transport to provide an efficient service for the Canberrans.
Investments for this project will come from John Holland, Pacific Partnerships, Mitsubishi and Aberdeen.
As part of the project, John Holland will also provide operation and maintenance services for 20 years in partnership with Pacific Partnerships and Deutsche Bahn International.
A joint venture comprising John Holland and CPB Contractors will be responsible to deliver the design and construction for the project.
CAF will supply and maintain the 14 light rail vehicles (LRVs), while BTMU will serve as financial adviser with funding provided by local and international banks.

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