The SPARK consortium, formed by DIF Infrastructure VI, Capella Capital, John Laing, Pacific Partnerships, CPB Contractors, GS Engineering & Construction, WeBuild, China Construction Oceania, and Ventia, has reached financial close on the North East Link project in Melbourne, Australia.

The North East Link project has a total cost of AUD11.1 billion (US$8.34 billion). DIF VI will own a 20% stake in the Primary Package PPP. The project will be the longest twin road tunnel in Victoria state, with three lanes and around 6.5 kilometres in length. It will close the missing link in the freeway network of Melbourne. The project will be delivered by a design & construction joint venture of WeBuild, CPB Contractors, GS Engineering and China Construction Oceania, while Ventia will overtake operations & maintenance.

Once operational, the North East Link will be used by up to 135,000 vehicles every day and will reduce the congestion in the northeast. In addition, the road will cut travel times up to 35 minutes, take 15,000 trucks off local roads per day, and generate more than 10,000 local jobs.