3 weeks ago
3 weeks ago
A project of High Capacity Metro Trains (HCMT) public-private partnership (PPP) in Melbourne, Australia worth AU$2 billion ($1.5 billion) has been given in part to CRRC Changchun Railway Vehicles Co., Ltd, a subsidiary of CRRC Corporation Limited. The signing ceremony was held in Melbourne on November 24, 2016. Minister for Public Transport Jacinta Allan, Chairman of CRRC Changchun Wang Run, are present at the signing ceremony.
The Victorian government project will be completed with the Evolution Rail Consortium, which includes CRRC Changchun Railway Vehicles Co., Ltd, Downer EDI Limited and Plenary Group. The project plans to build 65 high-capacity metro trains (HCMT) in Melbourne,
The first of the new trains will be delivered for testing by November 2018, and will enter service on the Cranbourne-Pakenham Line from 2019, with all 65 trains available by 2026 when Melbourne’s metro tunnel opens.
Equity financing will come from Plenary (30.1%), Downer (10%), CRRC (10%), and funds managed and advised by Partners Group (49.9%). Under the deal, CRRC Changchun will design the trains and establish new regional headquarters in Melbourne.
The brand new HCMTs will be longer than existing trains – with 20 per cent more space to reduce overcrowding – and the innovative design will use the latest technology, making them safer, more reliable and more comfortable for passengers.
This project is the biggest project in the Australian state's history. Benjamin Haan, managing director of the project, says all new trains will be built in Victoria, with more than 60 percent local content. The project is also expected to result in at least 1,100 jobs.
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