Industry shows strong interest in Melbourne East West Link PPP project
Treasurer Michael O'Brien announced last Friday that there was an overwhelming response globally from builders and investors interested in delivering the first stage of the East West Link project.
Mr O'Brien said:
"We expect this to be the largest tender of its type released globally in 2013. The high level of interest in delivering this critical infrastructure project has led us to revise the number of parties we are prepared to shortlist at the conclusion of the Expressions of Interest process. The ultimate decision on whether to extend the shortlist will be based on the quality of the Expressions of Interest received and the value to taxpayers from maximizing competition."
In line with recent reforms to Victoria's Public Private Partnership (PPP) policy, the state Government will reimburse a portion of bid costs for unsuccessful short listed bidders.
The East West Link project will be delivered as an availability PPP with the state initially retaining tolling and traffic risk. This will attract more interest from bidders, according to Mr. O'Brien.
The Victorian Government will shortly call for Expressions of Interest for the project, from which a shortlist will be invited to submit more detailed proposals to deliver the project.
The East West Link project is an 18-kilometre cross city connection north of the Melbourne central business district. The full East West Link dramatically improves the connectivity between Melbourne's established east and rapidly growing west, joining the Eastern Freeway at Hoddle Street with the Western Ring Road in Sunshine West.
The East West Link Stage 1 has an estimated capital cost of between $6 billion and $8 billion.See the Executive Summary of the Business Case.
Source: Victoria GovernmentCountry news
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