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North East Link approved for build
Allens has advised the Spark Consortium on the successful closing of Victoria’s North East Link.
Lauren Croft
Firm: Allens (Spark Consortium).
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Deal: Allens has advised on the successful closing of Australia’s largest Public-Private Partnership (PPP), North East Link, which will see Victoria’s longest road tunnels built between Melbourne’s northern and south-eastern suburbs
Value: $11.1 billion.
Area: Construction, projects.
Key players: The Allens team was led by projects partner David Donnelly, who was supported by his team: senior associate Tim Leschke, associate Mai Mitsumori-Miller, associate Kanana Fujimori, associate Edward Thien, lawyer Tom Bleby and law graduate Andrew Panaccio, as well as members of the Allens finance, corporate, tax, and environment and planning teams.
Deal significance: The Spark Consortium is made up of construction companies WeBuild, GS E&C, CPB Contractors, China Construction Oceania, Ventia, Capella Capital, John Laing, DIF and Pacific Partnerships, and the project is also jointly funded by the Australian and Victorian governments, making it the largest PPP in Australian history.
The $11.1 billion North East Link PPP provides three-lane twin tunnels that will complete the missing link in Melbourne’s freeway network. The project will reduce congestion in the north-east while maintaining local roads for local trips, with up to 135,000 vehicles utilising it every day.
It will also overhaul the Eastern Freeway with six express lanes and deliver Melbourne’s first dedicated busway in addition to adding a North East Trail with over 34 kilometres of walking and cycling tracks, due for completion in 2028.
Mr Donnelly commented: “Pulling this deal together has required open and collaborative dialogue between the public and private sectors. Not only is this the largest PPP in Australian history, it has been procured against the backdrop of the shifting sands of the pandemic and then closed electronically. The number of ‘firsts’ achieved on this project is mind-blowing.
“The project will be delivered by a truly international team – including the largest construction joint venture ever pulled together in Australia. Getting to that outcome required great vision and leadership from the private sector and an innovative and outcomes-focused mindset from the Victorian government. It’s a fantastic collaboration.”
