Herbert Smith Freehills has advised the Victorian Government’s Melbourne Metro Rail Authority on the A$11 billion Metro Tunnel public-private partnership (PPP) project, which reached financial close on 18 December 2017.
The project is the biggest public transport project in Victoria’s history and the largest enhancement to Melbourne’s CBD rail network since the construction of the City Loop over 30 years ago.
Herbert Smith Freehills was appointed by Melbourne Metro Rail Authority in June 2015 and advised on the request for tender process and contract documentation.
The project will deliver two nine kilometre long tunnels under the Melbourne CBD and five new underground stations – North Melbourne, Parkville, State Library, Town Hall and Anzac stations. It will benefit commuters across Melbourne by reducing congestion in the City Loop and allowing more services to be run in and out of the City.
The Herbert Smith Freehills team was led by Projects Delivery partners Erin Wyeth and Jim Theodore and supported by the firm’s Project Finance, Real Estate, Land & Planning, Industrial Relations and Workplace Health and Safety teams including partners David Sinn, Miles Wadley, Heidi Asten and Steve Bell.
“We are delighted to have achieved financial close on this ambitious and city-changing transaction,” Erin said. “We congratulate Melbourne Metro Rail Authority and all private sector participants for achieving this milestone.”
Other firms involved in the transaction include White & Case who, together with Herbert Smith Freehills, advised Melbourne Metro Rail Authority. Allens advised the financiers, MinterEllison advised the Cross Yarra Partnership, and Norton Rose Fulbright advised the design and construction joint venture and the maintenance subcontractor.
This transaction is another example of Herbert Smith Freehills’ market-leading work in PPPs. Other recent examples include the High Capacity Metro Trains project, the Capital Metro light rail project in the ACT and the New Grafton Correctional Centre project in NSW.