Applications are open for the first round of Fixing Country Rail funding, which is targeted at improving freight movements across NSW.
The $150 million provided for this first round is part of the $400 million Fixing Country Rail initiative, which will deliver a highly functional transport network across the state for moving freight in and out of regional areas and ease pressure on our local roads.
I encourage everyone across the regional freight industry to nominate Fixing Country Rail projects – including producers, councils, transporters, intermodal terminal operators and infrastructure managers.
Fixing Country Rail will fund infrastructure enhancements on the Country Regional Network, ARTC leased network and other rail assets owned by the NSW Government.
It will also deliver rail upgrades such as rail sidings, passing loops, reinstating non-operational rail lines and track upgrades to enable increased axel weights to improve efficiency and reduce costs.
The program complements the highly successful Fixing Country Roads, which is all about improving freight movements between farms, key freight hubs like grain silos, saleyards, rail heads, supermarket distribution centres and depots.
Transport for NSW freight projects details: freight.transport.nsw.gov.au
ENDEAVOUR LEASE WRAPS UP POLES AND WIRES TRANSACTIONS
The NSW Government has secured funding for its $20 billion Rebuilding NSW infrastructure program, having achieved another outstanding result in the final Endeavour Energy transaction.
Premier Berejiklian and Treasurer Perrottet announced that the Government’s poles and wires asset recycling program has concluded with the successful lease of 50.4 per cent of Endeavour Energy to an Australian-led consortium, Advance Energy, consisting of:
- •Australia’s Macquarie Infrastructure & Real Assets (30.16%)
- •AMP Capital on behalf of REST Industry Super (25%), also from Australia
- •Canada’s British Columbia Investment Management Corporation (25%), and
- •The Qatar Investment Authority (19.84%).
Advance Energy has received all necessary regulatory clearances from the ACCC and the ATO and has been approved by the Federal Treasurer following advice from FIRB. The transaction has delivered $7.624 billion to NSW in gross proceeds.
The NSW Government now has $20 billion secured to go towards the new schools, hospitals, roads, rail and cultural institutions across NSW.
The NSW Government will retain a 49.6 per cent interest in Endeavour Energy and will have ongoing influence over operations as lessor, licensor and as safety and reliability regulator.
Endeavour Energy will continue to be regulated by the Australian Energy Regulator.