GHD Advisory provided technical due diligence on the 51 percent sale of the Sydney Motorway Corporation, one of Australia’s largest infrastructure transactions.
The transaction includes WestConnex, a 33 km, predominantly underground tolled motorway that will allow motorists to bypass the Sydney central business district.
GHD Advisory was contracted by the New South Wales (NSW) Treasury to undertake technical vendor due diligence on the sale of the majority Sydney Motorway Corporation (SMC) stake.
Our team reviewed and assessed risks related to geology and geotechnics, roadway and traffic engineering, traffic management, tunnels, ventilation, fire and life safety, durability, structures, electrical, lighting and electronic tolling systems, noise and lifecycle costing. To optimise the transfer of risk between the vendor and successful bidder, GHD Advisory also facilitated a risk management workshop with key stakeholders. Material risks were captured in the due diligence reports to provide sufficient disclosure for bidders.
The sale to the Sydney Transport Partners consortium, led by listed toll road company Transurban, has generated more than AUD 9 billion for the NSW Treasury that will be reinvested in infrastructure development in the state. Current estimates indicate that the completed road network will significantly reduce travel times and create productivity gains for freight and commercial operators.
This transaction was highly complex because it contained both brownfield and greenfield elements and included one of the world’s most complex underground tunnelling projects.
The project received Consult Australia 2019 Gold Award for External Stakeholder Engagement and the Infrastructure Partnerships Australia 2019 Project of the Year award.