Toowoomba Second Range Crossing wins gong in London
THE Toowoomba Second Range Crossing project has been named the Partnership Awards' Best Road Project of the Year.
ACCIONA, a construction, engineering, infrastructure management and R&D company involved in the project, was given the award.
ACCIONA Concessions is part of the Nexus Infrastructure joint-venture that was awarded the contract to design, build, operate and maintain the crossing in August 2015 through a Public-Private Partnership contract valued at $1.6 billion.
Construction is expected to create around 1800 jobs and be completed in 2018.
After completion, ACCIONA Concessions will participate in the operation and maintenance of the highway under a 25-year concession.
Nexus Infrastructure was able to design and propose a wide range of options that were supported by fully underwritten debt and equity financing, enabling the state to select a superior solution to the reference design.
Judges approved of the impressive efficiency seen in the negotiations, and welcomed the strong collaboration evidenced between the public and private sectors.
They also highlighted the clear intentions for community benefit that the new project will deliver, as well as the commitment to local employment opportunities. Among the benefits to the local community, the judges praised the impact it will have on safety and increasing freight transport.
The prize joins the long list received by ACCIONA for highways in Australia.
Last March, it won the IJGLobal award, granted to major infrastructure finance initiatives throughout the world, and in February this year the magazine Project Finance International recognised the Toowoomba highway project as the most outstanding one in the Asia-Pacific region.
The honour was conferred at a ceremony in the Park Plaza Westminster Bridge Hotel London last week.