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QIC reaches financial close on NorthConnex

QIC reaches financial close on NorthConnex

Reporter
— 1 minute read

Institutional investment manager QIC, along with its partners in the Westlink M7 Motorway, announced that it has reached a financial close on the NorthConnex project in Sydney, NSW.

In a statement released by the investment manager, QIC head of global infrastructure Ross Israel said this is an “important milestone” in the development of the $2.9 billion project.

“Our involvement in the transaction leverages our capabilities in the road sector and our ability to be a collaborative partner to governments,” Mr Israel said.

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"The Westlink M7 shareholders have been able to deliver NorthConnex through an innovative and unique financing structure,” he said.

QIC said the project is to be delivered by the Westlink M7 shareholders under an innovative structure that includes enhancements to the existing Westlink M7 Concession as funding sources for the project.

Construction will commence in early 2015 and will be completed by the end of 2019.

 

QIC reaches financial close on NorthConnex
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