Following on from its win in 2017, the Western Roads Upgrade project, located in the Australian State of Victoria, took home top spot in the Financial Excellence category at the 2018 edition of the National Infrastructure Awards.
The awards, celebrated annually, seek to highlight achievements in the delivery of significant infrastructure projects across Australia and New Zealand. The Western Roads Upgrade project is the State of Victoria’s largest arterial roads investment to date. The A$1.8 billion upgrade comes with a comprehensive 20-year maintenance program that covers the more than 260-kilometer road network.
The Financial Excellence award saw judges recognize a unique financial package that includes a full-term bond finance raised via the US Private Placement market, Australia’s first greenfield bond financing for a public-private partnership since the global financial crisis.
“It's an honour for Netflow WRU to be recognised for our work, part of the great work being done by the team. The Western Roads Upgrade is a great example of the innovative financing solutions that can be achieved, and we thank the Victorian Government for its commitment to delivering infrastructure that truly benefits its community.”
The Netflow Western Roads Upgrade consortium comprises of Cintra as joint project sponsor and SPV manager; Plenary Group as financial arranger, joint project sponsor and joint SPV manager; WBHO Infrastructure as design and construction lead; and the Amey and Broadspectrum joint venture as services contractor.