01 March 2007
Brisbane, 1 March 2007: Queensland's landmark North-South Bypass Tunnel (NSBT) project continues to receive recognition at both an international and domestic level, capping off a rewarding role for Clayton Utz as legal advisers to the project sponsor, Brisbane City Council.
The Council took out the Government Partnership Excellence award for the NSBT project at Infrastructure Partnerships Australia's[1] 2007 National Infrastructure Awards, held in Sydney on 22 February. The award recognises "excellence and innovation in the development and delivery of public policy objectives in the formation and balance of a public and private sector partnership".
This is the latest recognition for the NSBT, which was named Infrastructure Deal of 2006 by Project Finance International magazine and Asian Infrastructure Deal of the Year at the Project Finance International Awards 2006. The project also took out Best Project Finance Deal at the FinanceAsia Achievement Awards 2006 (Australia and NZ).
The head of Clayton Utz's Major Projects team, Doug Jones AM, said it was pleasing to see such an important project recognised at an industry level. "The recognition of the NSBT as an outstanding PPP and infrastructure project is a credit to all involved in bringing the project to fruition."
Mr Jones and Brisbane Major Projects partner Alan Maguire led a team from Clayton Utz in advising Brisbane City Council through all stages of the project structure, tender and negotiation process for the A$2 billion+ toll road/tunnel project, which achieved financial close in August last year.
The NSBT is the first local government PPP of its type in Australia and Queensland's only privately financed toll road. Construction of the project, which comprises a dual road tunnel of approximately five kilometres, has recently begun.
Commented Mr Maguire: "This is a landmark project to which Clayton Utz is proud to have contributed."
Clayton Utz has also been appointed to provide legal services for the proposed Brisbane Airport Link, another PPP which will be an underground toll road connecting Brisbane's northern suburbs to the Inner City Bypass and NSBT at Bowen Hills.
[1] Infrastructure Partnerships Australia (including AusCID) is the national peak industry body representing the interests of public and private organisations involved in infrastructure development. In September 2006, AusCID (the Australian Council for Infrastructure Development) amalgamated with Infrastructure Partnerships Australia to lead the debate on infrastructure needs. For further information, visit www.infrastructure.org.au.
