Melbourne, 3 March 2022: Clayton Utz has been recognised for our advisory roles on two transactions named Asia Pacific PPP Deal of the Year and Asia Pacific Transport Deal of the Year respectively at the Project Finance International (PFI) Awards 2021, announced on 1 March.
The $1.5 billion new Footscray Hospital project – the single largest health infrastructure investment in Victoria, and on which we advised Plenary Group – was named Asia Pacific PPP Deal of the Year. Clayton Utz Projects and Debt Finance partner Marcus Davenport led a multi-disciplinary team that worked alongside Plenary over many months on the contract negotiations, debt and equity arrangements and FIRB approvals, environment and planning, major projects and construction and property aspects, and legal due diligence.
PFI awarded Asia Pacific Transport Deal of the Year to the Victorian Government's landmark AUD $11.1 billion North East Link Project (NELP), on which a Clayton Utz team led by Major Projects and Construction partner Steve Murray and Projects and Debt Finance Partner Dan Fitts advised the Major Transport Infrastructure Authority (MTIA).
Commenting on the recognition, Marcus said of the Footscray Hospital project:
Plenary Group is a longstanding client of ours, and we're really proud to have been given the opportunity to work with their team on yet another landmark project that is responding to Victoria's healthcare infrastructure needs.
Dan similarly acknowledged our team's appreciation of being able to support the MTIA team and Victoria Government on the NELP project.
NELP gave rise to a range of novel and complex commercial and legal issues, including a ground-breaking financing structure incorporating both traditional private sector project financing and State incentivised target cost funding, and I am delighted that our team was able to rise to those challenges. It is a first-class project that will set new benchmarks in terms of major infrastructure financing and procurement around the world, and it has rightly been recognised globally with this award.