Bunnik, the Netherlands, 4 April 2019 – The Pulse consortium, comprising BAM PPP PGGM, Pacific Partnerships, Ghella, DIF, BAM International, CPB Contractors, Ghella Investments and Partnerships, and UGL, has been selected by the Cross River Rail Delivery Authority (CRRDA) as the preferred proponent to deliver the Tunnel, Stations and Development (TSD) package of Brisbane’s Cross River Rail Project.
BAM PPP PGGM along with Pacific Partnerships, Ghella Investments and Partnerships and DIF will provide equity funding to the project. BAM International will deliver the design and construction in a joint venture with CPB Contractors and Ghella Pty Ltd. UGL will provide maintenance services for 24 years.
The $5.4 billion (€3.4 billion) Cross River Rail project includes design and construction of a 10.2 km rail line from Dutton Park to Bowen Hills including a 5.9 km twin tunnel under the Brisbane River and the Central Business District (CBD). The TSD package includes tunnelling works and new underground stations.
By delivering a second river crossing as well as two new CBD stations, the Cross River Rail project unlocks existing bottlenecks into the CBD, allowing more trains to run more often and enabling a turn-up-and-go public transport system across the entire region. By integrating with roads and bus services the project enables easily accessible transport system for the whole of South East Queensland.
BAM PPP bv
BAM PPP is responsible for Royal BAM Group’s involvement in public private partnership (PPP) projects. BAM PPP operates in five key European markets, the Netherlands, Belgium, UK, Ireland, Germany and in selected International markets, in addition to exploring broader project finance investment opportunities. BAM PPP’s sector expertise includes roads, rail, education, health, justice, marine and general accommodation. BAM PPP has reached financial close on 46 projects, with a total capital value of over €8.6 billion. BAM PPP is an operating company of Royal BAM Group, a worldwide construction services company listed at Euronext Amsterdam.
PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On December 31, 2018 PGGM had EUR 211 billion in assets under management and was administrating pensions of 4.4 million participants. Around 750,000 workers in the Dutch healthcare are connected to PGGM&CO, our members organization. Either alone or together with strategic partners, PGGM develops future solutions by linking together pension, care, housing and work.
BAM International deploys the contracting activities of Royal BAM Group outside Europe, delivering major infrastructural projects including tunnelling and all associated civil works, providing the entire functional environment, worldwide. BAM International has gained broad international experience and know-how in the fields of marine work, general building, infrastructure and industrial projects. Projects cover the full range of services for all different types of tunnels (transportation, logistics, water and sewage, utilities). The company has over 50 years of experience of successfully completing projects in Australia and BAM has extensive tunnelling expertise.
- BAM PPP: Vicki Harris, +44 (0)141 779 8634, [email protected];
- Royal BAM Group:
- Analysts: Michel Aupers, +31 (0)30 659 87 07, [email protected],
- Press: Niles van Dongen, [email protected] of Arno Pronk, [email protected], +31 (0)30 659 86 23;
- PGGM: Press: Maurice Wilbrink, +31 (0)30 277 97 35, [email protected].