CDPQ invests in Sydney Metro
Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor, has acquires a 24.9 per cent stake in the public-private partnership (PPP) contract for the trains, systems, operations and maintenance of Sydney Metro, Australia's biggest public transport project, which includes both the North West and City & Southwest lines.
The total value of the transaction is AUD167 million (CAD150 million). Other investors include MTR Corporation Limited, Marubeni Corporation, Plenary Group and CIMIC Group Limited.
The Metro North West Line opened in May 2019 with 13 metro stations in Sydney's North West. It is being extended into the Sydney city centre and beyond to Bankstown by 2024, when Sydney will have 31 metro stations and a stand-alone 66-km metro railway.
"The Sydney Metro is a transformative project for the city and for thousands of people who look to public transport for fast and efficient travel each day. This transit system will expand sustainable mobility in the region and contribute to the transition toward a low-carbon economy by compounding the benefits of mass transit, electrification and energy from renewable sources," says Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure, CDPQ. "This investment is perfectly aligned with our strategy to invest in high-quality infrastructure assets, alongside partners with a deep understanding of the market and vast operational expertise."