Client Agency:
Transport for NSW - formerly RMS
Project Description:
- The M7 base rent payable by Westlink M7 to Roads and Maritime Services (RMS) was monetised for a price of $174.2 million.
- The monetisation involved a highly competitive sale process that attracted strong interest from both domestic and offshore parties.
- Monetising the rental payments enables the Government to transfer some traffic risk to the investor and to raise funds for new infrastructure without increasing State debt.
- All proceeds have been applied to the NSW Government’s contribution to the NorthConnex project.
- There will be no changes to the underlying M7 contracts, to the operator’s obligations to operate and maintain the motorway, nor to the tolling regime as a result of the monetisation. The M7 Motorway and the M7 Motorway land will still be handed back to the Government in 2048.
Private Sector Partners:
Rothesay Life
Project Details:
Transaction date: 29 October 2015 Transaction proceeds: $174.2 million
