Projects and Project Finance

Projects are an important contributor to economic prosperity; investment in projects also plays a major role in private sector productivity. Project finance is a long-established technique for stand alone financing of major projects, and is a key component of successful project delivery. Our understanding of project finance and the versatility that it offers for dealing with changing conditions, enables us to develop innovative solutions to extend the reach of project finance to new project delivery models like public private partnerships (PPP).

Our project finance team has played a central role in some of the largest and most complex infrastructure and resources transactions in the Asia Pacific, including several award-winning and ground-breaking transactions. We are also recognised as one of the best PPP teams in Australia, with a reputation for delivering high quality strategic, legal and commercial advice to governments, financiers and private sector consortia. We are clearly positioned at the forefront of Australia's PPP sector, having been instrumental in the development of the Private Financing model in Australia, and having been involved in almost every major infrastructure PPP in Australia to date.

We work across all major industry sectors, including energy (wind farms, solar programs, power stations, and transmission and distribution assets), oil & gas (pipelines and LNG), water (treatment, desalination and distribution), transport infrastructure (roads, rail, ports and airports), resources (base metals, precious metals, coal and chemicals), social infrastructure (hospitals, prisons, housing and schools) and telecommunications (networks and cables).

Port Botany and Port Kembla Transaction

Advised the New South Wales Government (NSW Treasury) on the refinancing of Port Botany and Port Kembla in NSW. The project was unique, involving the contemporaneous refinancing and long term lease of two major Australian ports. Our role included extensive legal analysis of the existing assets and businesses and the regulatory landscape; recommending a transaction structure; drafting special transaction legislation; asset restructuring; preparing extensive interrelated transaction documents; tender process and negotiations; and implementation under legal project management. The project was complex and very significant for NSW, with the transaction widely considered to establish a new benchmark in transaction preparation and execution.

Public Transport Victoria on the Bus refranchising projects

Advising on the Victorian Government's key bus refranchising projects including:
 • The Melbourne Bus Service Project – refranchising of 30% of Melbourne's metropolitan bus services. Project Value is approximately AUD$1.5 billion 
 • the $650m refranchising of Orbital SmartBus services throughout Metropolitan Melbourne 
 • The Melbourne Bus Contract Project – $5bn bus service procurement, the Victorian Government's largest ever bus services procurement.

These projects have involved: 
 • redesigning the metropolitan bus service contract 
 • renegotiating with existing operators to mitigate from the existing services agreement to new contracts 
 • developing required amendments to bus service legislation in Victoria 
 • implementing the contracts necessary to migrate including Invitation to Negotiate and Commitment Deeds 
 • ancillary documentation required to preserve the State's rights in the event of default by the operator.

NSW Social Housing PPP Project - Airds-Bradbury

Acting for the NSW Department of Housing and the Department of Finance & Services on the new NSW Social Housing PPP at Airds-Bradbury. This (approx) A$500 million project involves the renewal and revitalisation of a social housing estate with 1470 dwellings located in the Campbelltown local government area. As principal legal advisors to the NSW government on only the second project of its kind in Australia, this is one of the most complex infrastructure projects to be delivered under the PPP framework to date.

Orange Hospital PPP Project

Acted for the Carewest consortium (Westpac/Abigroup/Honeywell/Medirest) on its bid for the Orange Hospital PPP project. We advised on all aspects of the consortium's bid to NSW Health on this project to finance, design, construct and facilities manage a new hospital in Orange, NSW.

Sydney Ferries Market Review Project

Acted for the NSW Department of Transport & Infrastructure in the Sydney Ferries Market Review project. This was a high profile and politically sensitive project to implement the recommendations of the Walker report into the operation of Sydney Ferries.