Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBFOM All Private Finance
# of Projects: 1
100% of the Results

Background informationProject Created: April 13, 2011

Project Name: La Trobe University Biosciences Research Centre
Year in Operation:
Sector: Technology
Subsector: Other Technology Project
Status: Design / Construction
Type: New Facility
Description: The project involves the design, construction, and operation of a new research facility labeled the Biosciences Research Centre (BRC). The BRC will be a new research facility for agricultural biosciences, and is proposed to be a national and international research hub. The project will generate economic, social, and environmental benefits including research on climate change and biosecurity preparedness as well as the detection, response and management of plant and animal pest and disease outbreaks to name a few. The goal is to deliver a fully operational facility by the end of 2011. The facility is designed and constructed to adapt to future expansions and requirements of new technologies, practices, and procedures such as e-science, robotics, nanotechnology, and other research technologies.
Delivery Method as described in the country where it's located: Public Private Partnership
Is the project still active: Yes
Comments: Design, Build, Finance, Operate, Maintain contract for a 25-year term

Project Locations

Address: Ring Road
City: Bundoora
State: Victoria
Country: Australia, Commonwealth of

Souces of Project Support (Non-monetary)

Checkbox Checked Revenue Stream (Cash Flow) Created Through Initial Commitment of Public Sponsor(s): The Joint Venture between The State of Victoria (75% owner) and La Trobe University 25% owner) have contractually agreed to pay the PPP concessionaire a quarterly service payment in accordance to a formula set in the project agreement. These service payments include an allowance for the capital costs of the BRC and the facilities maintenance and ancillary services delivered by the concessionaire during the 25-year operating period. These payments do not begin until the facility is fully operational. There is a strong incentive for the concessionaire to perform its contractual obligations as there are deductions and payment penalties related to service failures.
Checkbox Checked Environmental Clearance: Achieve energy efficiency and the provision of an environmentally and ecologically sustainable facility, with the capability of achieving a minimum certification under the Green Star Education Tool as a 5 star rated building. This will include greenhouse gas and peak energy reduction, water conservation (reduction and re-use) and waste minimization

Souces of Project Support (Monetary)

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: The private sector financing for the project is comprised of senior debt, subordinated debt and equity. Senior debt is comprised of a capitalizing construction facility, which converts to a term loan on the date of commercial acceptance, with a combined loan term of 5 years at financial close. The subordinated debt is a subordinated loan facility agreement for an initial term of 5 years. Plenary Research has arranged for the involvement of a number of financiers to cover the capital costs for the construction of the BRC and other related costs. These financiers include the National Australia Bank, Westpac and Commonwealth Bank of Australia in a “club” arrangement, and the Bank of Tokyo-Mitsubishi UFJ Limited.

Checkbox Checked

From Producers as Equity: Equity is provided by the Plenary Group and supported by a letter of credit. Additionally, the concessionaire is allowed two scheduled refinancing’s in the first ten years of the contract term. Both the contractor and the State share gains or losses arising from changing financing margins.

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 independent checking engineer? Yes
Project Finance Method: All By Private Sponsor

Procurement Approach

Project Component
Based Selection
Request for
Request for
for Bids

Term for Key Components & Forms of Contract

Project Component
Combined Term: Initial Design, Construction, O&M Period

Project Value (If and As Known)

Date of Estimated Project Value: April 13, 2011
Project Value
Hard Cost
Hard & Soft Costs
$200-500 Million US


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