KKR-owned John Laing has acquired a controlling interest in Sydney Light Rail (SLR), increasing its stake to 95% after buying out Aware Super鈥檚 62.5% share in the public-private partnership project.
Spanish conglomerate Acciona remains a 5% shareholder in ALTRAC, the partnership responsible for delivering and operating SLR for the NSW Government.
John Laing has been actively involved in the project since its commencement in 2014, from initial construction through to the management of the mass transport system.
Further growth of the SLR network is proposed. This includes ALTRAC鈥檚 proposal for an 11km extension of the network along Parramatta Road to Green Square via Central Station in the inner west of Sydney.
Andrew Truscott, CEO of John Laing, said: 鈥淥ur increased stake reflects our commitment to Sydney Light Rail, which is one of our most highly regarded assets. We are incredibly proud to have played a part in developing this city shaping initiative and are delighted to be playing an even greater part of its future.鈥�
Andy Haining, co-head of APAC at John Laing, said: 鈥淲e are excited to increase our long-term commitment to SLR and look forward to continuing to work alongside Transport for NSW and our consortium partners to deliver outstanding service for an ever-increasing passenger base.鈥�
Mark Hector, the head of Aware Super鈥檚 infrastructure arm, said the fund was proud of its decade-long investment and contribution to ALTRAC鈥檚 growth and achievements.
鈥淲e have invested in ALTRAC on behalf of our 1.1m members to create a critical transport infrastructure project that will provide community benefits for generations to come,鈥� he said.
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