New Generation Rollingstock Sale

Planum Partners advised Itochu on selling 50% of its interest in the New Generation Rollingstock (NGR) PPP. NGR was delivered as an availability Public Private Partnership (PPP) with the Department of Transport and Main Roads in Queensland. The Qtectic consortium comprising Itochu, John Laing, abrdn and Bombardier Transportation was the successful bidder. 

The NGR Project is one of the largest public transport investments in Queensland, with Qtectic contracted to design, build, finance and maintain 75 new passenger trains, and design and construct a new purpose-built maintenance facility at Wulkuraka Queensland, all delivered within a ~$4.4 billion contract.  

Planum ran a competitive process to test market appetite for the Itochu interest and indicative terms to support the development of the preferred sale strategy. The sale was structured as a broader partnership with a major Japanese contractor which included acquiring the 50% NGR interest and exploring further co-investments opportunities in Australia.

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