07 Oct 2014

Clayton Utz congratulates LMA on financial close on first stage of East West Link PPP

Melbourne, 7 October 2014: Clayton Utz congratulates Linking Melbourne Authority and the State of Victoria on achieving financial close on the landmark $6.8 billion East West Link Stage One road PPP on 3 October 2014.

The Victorian government appointed the East West Connect consortium (comprising Lend Lease, Bouygues, Acciona and led by Capella Capital), to finance, design, construct, operate and maintain East West Link Stage One for a 25 year period. The project also marks the first time in Australia that a government will deliver a road by an availability PPP model while retaining demand risk on toll revenue.

Clayton Utz has advised Linking Melbourne Authority on all aspects of the project, from development of the business case through to the final planning and procurement. Partner Brad Vann led our core project team, including partners Naomi Kelly, Sallyanne Everett, Steve Murray, Dan Fitts and Kym Fraser.

Clayton Utz's advisory role to Linking Melbourne Authority builds on our earlier work advising the East-West Study Team which assisted Sir Rod Eddington on his earlier report to the Victorian Government.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.