Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 25, 2009

Project Name: Melbourne City Link
Year in Operation: 2000
Sector: Technology
Subsector: Electronic Vehicle ID / Toll Collection, Roads
Status: In Operation
Type: New Facility
Description: The project is a privately-funded toll road that connects three of the city's major freeways. The project consists of two parts: the Western Link, which connects the Tullamarine Freeway to the West Gate Freeway; and the Southern Link, which connects the West Gate Freeway to the Monash (formerly South Eastern) Freeway.
Delivery Method as described in the country where it's located: Build Own Operate Transfer
Is the project still active: Yes
Comments: Under a concession deed with the Victorian government, a private developer is responsible for the design, building, financing, operating, and levying of tolls for the project. There is a concession period of 34 years, ending in 2034. At that point, the City Link will be transferred to the state.

Project Locations

Address:
City: Melbourne
State: Victoria
Country: Australia, Commonwealth of

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: The City Link is owned by the government of Victoria but is under the control of contractor until June 2034.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Section 2.1 of the Concession Agreement provides that the concessionaire and the government trustee intend that Project Debt will be incurred solely for the purposes of the Project and will be repaid in accordance with the Lending Documents. Section 2.1 also provides that the equity investors derive at least the base case equity return.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Arrow Right
Checkbox Checked

Direct Cash Support: Under the concession agreement, the private firm will pay the state back the funds it provided for the project's construction over the concession period, relying primarily on the aggregate revenues from toll collection. The concession fee was set at $95.6.million per year during the construction period and the first 26 years of operation. For the remaining 9 years, the fee is $45.2 million per year.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
38
0
Forms
Description
 
 

Project Value (If and As Known)

Date of Estimated Project Value: October 1, 1995
Project Value
Hard Cost
Hard & Soft Costs
Total
$500 Million - 2 Billion US
(none)

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