On 19 May 2008, the State Government announced BrisConnections as the preferred bidder for the Airport Link, Northern Busway (Windsor to Kedron) and Airport Roundabout upgrade projects.
BrisConnections is sponsored by Macquarie Capital Group, Thiess and John Holland.
BrisConnections will enter a Public-Private Partnership with the State Government to design, finance, construct, operate and maintain the Airport Link project for 45 years.
BrisConnections will also design and construct the Windsor to Kedron section of the Northern Busway and the Airport roundabout upgrade. The Queensland Government will fund, own and operate the busway and the Airport Roundabout upgrade.
The combined projects will cost more than $4 billion to design and construct. Airport Link will cost $3.4 billion, the Windsor to Kedron busway section $444 million and the Airport Roundabout upgrade $272 million. The State will contribute $1.5 billion to the projects.
Financial close is expected to be completed in August 2008 and construction is expected to begin in late 2008. The Airport Link, Northern Busway (Windsor to Kedron) and Airport Roundabout projects are expected to be completed by 2012. Read more.
A Public-Private Partnership (PPP) is a contractual arrangement between Government and the private sector which harnesses the skills and capability of the private sector in designing, constructing, operating, maintaining and financing major infrastructure projects.
One of the key characteristics of a PPP is that the Government maintains control of the infrastructure by monitoring the private sector's performance.
The Government makes payments based on a performance regime and if necessary, can 'step-in' to ensure services are delivered.
A PPP brings new incentives to the private sector to deliver infrastructure as payments don't begin until the facilities are ready to operate.
