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John Laing Group has increased its stake in the Sydney Light Rail (SLR) network to 95% by acquiring Aware Super’s 62.5% interest in the public-private partnership that operates the network.
John Laing currently holds a 32.5% stake in ALTRAC, the partnership that delivered and now operates SLR on behalf of the NSW Government. John Laing has been?actively involved in the project since its commencement in 2014, from initial construction through to?the?management of the successful mass?transport system it is today. Over?40 million trips per year are taken on this network, which has also had a transformative effect on central Sydney’s streetscape.? Further growth of the SLR network is proposed this includes ALTRAC’s proposal for an 11 km extension of the network along Parramatta Road to Green Square via Central Station.
SLR is a vital component of Sydney’s public transport system, helping to ease traffic congestion?and?reduce?vehicle emissions?-?with each light rail vehicle able to?carry up to 450 passengers,?the equivalent of nine buses. The network has transformed George Street and attracted investment in property and housing with over AU$35 billion (US$ 23 billion) of investment across 1,700 sites along the corridor since the project’s announcement. The SLR promotes sustainability by encouraging a shift from cars to public transport. Its eco-friendly features include solar panels on depot roofs and regenerative braking systems on the L2 & L3 light rail vehicles, enhancing energy efficiency. John Laing received advisory services from King & Wood Mallesons and Deloitte for the project. The acquisition is expected to be completed before the end of Q4. |
