John Laing in North East Link consortium

09 July 2019 - 12:00 am UTC

Infrastructure investor John Laing has joined a consortium including Capella Capital to bid on the AUD 7bn- AUD 9bn (USD 4.9bn-USD 6.3bn) North East Link motorway PPP, according to four sources familiar with the matter.

 

The group includes contractors China State Construction Engineering Corp., Korea’s GS E&C and Italy’s Salini Impregilo, as reported.

 

Two other groups also submitted expressions of interest by the 27 May deadline.

 

Financial sponsor Plenary Group is with builders John Holland and Acciona. The sources said all equity for this consortium’s bid is coming from these three, with no input from Plenary shareholder CDPQ. The other group includes Macquarie Capital with CIMIC Group and construction companies Fluor and Samsung.

 

Numerous market sources have pointed to up to two further Chinese-led consortia that were trying to form to lodge an EOI in time, but it is unclear which companies were in these groups or whether any managed to do so.

 

A request for proposal is due to be issued in the third quarter and the bid deadline is expected to be in the first quarter of 2020.

 

John Laing and Capella Capital declined to comment for this report.

 

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