Contract Award Notice Details
Contractor Name ALTRAC Light Rail Partnership
ACN -
ABN
37 399 764 913
Is an Aboriginal or Torres Strait Islander owned business No
Street Address c/- Capella Capital, Level 31, AMP Centre, 50 Bridge Street
Town/City Sydney
State/Territory NSW
Postcode 2000
Country AUSTRALIA
The main private sector entities to the Project Deed are:
- ALTRAC Light Rail Partnership (OpCo)
- Alstom Transport Australia Pty Limited (D&C Contractor)
- Acciona Infrastructure Australia Pty Ltd (D&C Contractor)
- Transdev Sydney Pty Ltd (O&M Contractor)
- APP Corporation Pty Ltd (Independent Certifier)
Refer to the published copy of the SLR Project Deed which is available on TfNSW's website.
Please refer to the published copy of the SLR Project Deed available on TfNSW's website for full particulars of all other related bodies coporate (within the meaning of the Corporations Act 2001 of the Commonwealth) in respect of the contractor, and other private sector entities in which the contractor has an interest, that will be involved in carrying out any of the contractor's obligations under the contract or will receive a benefit under the contract.
$2,200,400,000.00 (A project to be undertaken)
$3,256,667,660.00 (A project to be undertaken)
The contract provides for monthly Service Payments over the operations phase which is the primary source of payment to the contractor.
Multi-Stage
The Service Payment is calculated in accordance with clause 2 of Schedule D1 to the Sydney Light Rail Project Deed. Adjustments that can be made to the Service Payment include the following:
- an Availability Deduction;
- a Timeliness Deduction;
- a Service Quality Deduction;
- an Asset Functionality Deduction;
- the Customer Satisfaction Payment;
- an Asset Management Adjustment;
- an Adjusted Indexed Availability Fee;
- an Indexed Lifecycle Component;
- any Indexation Components such as CPI & LPI; and
- any bench marked components such as insurance & energy.
Payments to the contractor may be varied if the Pre-Agreed options in Schedule D5 of the Sydney Light Rail Project Deed are exercised.
TfNSW may modify the SLR Project Deed requirements relating to the Sydney Light Rail or OpCo's activities. The SLR Project Deed gives TfNSW the right to require OpCo to carry out the following categories of Modifications:
- Emergency Modification
- O&M Modification
- Operations Modification
- Expansion Modification
- LRV O&M Modification
OpCo may propose a Modification to the SLR Project Deed. TfNSW has absolute discretion to approve or reject the proposed Modification.
OpCo bears all risks and costs associated with a Modification proposed by OpCo (unless otherwise agreed by TfNSW).
The Sydney Light Project Deed establishes a framework by which an Augmentation can be discussed and potentially agreed upon by the parties. It is distinct from a Modification, which are generally variations within the scope of works contemplated by the parties.
Clause 14.3 of Schedule D1 provides Concession Enhancements payment as specified in section 1.1(f) of Annexure 1.
Clause 62.4 provides that the Sydney Light Rail Project Deed may only be varied by a deed executed by or on behalf of each party.
Clause 29 provides that TfNSW may modify the Sydney Light Rail Project Deed requirements relating to the Sydney Light Rail or the contractor's activities.
Clause 33 establishes a framework by which an Augmentation can be discussed and potentially agreed by the parties. The principles in Schedule D9 (Augmentations) apply to the Augmentation process.
Summary of the criteria against which the various tenders were assessed
| Evaluation Criteria | Weighting |
|---|---|
Whole of life asset management
|
|
Customer focussed outcomes during operations |
|
Commercial and financial acceptability to TNSW |
|
Delivery solutions
|
|
Integrated design and optimised technical solutions
|
|
Risk-adjusted cost |
No
Refer to "Other private sector entities involved in, with an interest in or benefiting from this contract" for details of O&M Contractor and D&C Contractor.
Not Applicable
Not Applicable
Agency Contact Attention: Project Information Officer, Infrastructure and Place, TfNSW
State/Territory NSW
Country AUSTRALIA
Email Address ProcurementTeamContractDisclosure@transport.nsw.gov.au
The amended estimated amount payable to the contractor for the Sydney Light Rail Public Private Partnership Project Deed (a project to be undertaken) is $2,960,606,964 (excluding GST). Note, this may not be the final contract value.
The disclosed contract value represents the contract price plus an additional 10% for GST. This value may be overstated if GST does not apply to all parts of the contract.
Fixtures affixed to the Sydney Light Rail will be owned by TfNSW from the time they are affixed.
OpCo must ensure that ownership of the Moveable Assets transfers to TfNSW at no cost on the date which OpCo aquires title to the relevent Moveable Asset free from any security interests other than permitted security interests.
TfNSW grants OpCo a non-exclusive licence to use and occupy the construction site, and to permit OpCo and its contractors to use and occupy the construction site, for the purpose of performing the delivery activities. This licence commences on the later of the specified site section access date for the relevant part of the construction site or such other date agreed between the parties, is subject to any requirements under the third party agreements, specified third party requirements and utility provider agreements and terminates on the date of completion.
TfNSW grants OpCo a non-exclusive licence to use and occupy the permanent light rail corridor for the IWLR from the date of revenue service on the IWLR and the permanent light rail corridor for the CSELR from the date of completion. This licence permits OpCo and its contractors to use and occupy the permanent light rail corridor for the purpose of performing the operations activities. This licence terminates at the end of the term.
TfNSW grants OpCo an exclusive licence to use the Moveable Assets for the purpose of fulfilling OpCo's obligations under the SLR Project Deed. This licence commences on the date that ownership of each Moveable Asset transfers to Transport for NSW and terminates at the end of the term.
TfNSW also grants to OpCo an exclusive licence to use the existing moveable assets on the IWLR for the purpose of fulfilling OpCo's obligations under the SLR Project Deed. This licence commences on the date of revenue service on the IWLR and terminates at the end of the term.
A business case for the project was prepared and a summary was published in November 2013.
A revised cost-benefit analysis will be prepared upon completion of the SLR project.
Financial value for money comparison between public sector and private sector project delivery:
|
Cost category |
PSC |
PPP |
Difference |
Difference |
|
D&C costs |
1,185.1 |
1,389.7 |
204.6 |
17.3% |
|
O&M / Lifecycle cost |
715.1 |
810.7 |
95.6 |
13.4% |
|
Total costs |
1,900.2 |
2,200.4 |
300.2 |
15.8% |
|
Transferred risk |
392.7 |
Included above |
- |
- |
|
Total NPC |
2,292.9 |
2,200.4 |
(92.5) |
(4.0%) |
The comparison of the net present cost of the Public Sector Comparator versus the SLR PPP (at the time of procurement) shows a benefit of $92.5 million or 4.0%.
The NPC of $2.2 billion described above should not be confused with the $2.1 billion capital budget as previously disclosed by the State. They are not directly comparable.
This table has not been updated to reflect the revised Project Deed.
The full base case financial model is commercial-in-confidence.
The risk sharing arrangements for the SLR PPP are summarised in the contract summary which will be tabled in Parliament.
The State guarantees the performance of TfNSW's payment obligations under the SLR Project Deed and other documents related to the project.
Refer to the published copy of the SLR Project Deed which is available on TfNSW's website.
Please see Sydney Light Rail - Project Deed Explanatory Table and Redaction Schedule published on the TfNSW 'Contracts Awarded' website:
No. Please see Sydney Light Rail - Project Deed Explanatory Table and Redaction Schedule published on the TfNSW 'Contracts Awarded' website:
Please see Sydney Light Rail - Project Deed Explanatory Table and Redaction Schedule published on the TfNSW 'Contracts Awarded' website:
