Sydney Metro is Australia’s largest public transport project being delivered by Transport for New South Wales (TfNSW). This new standalone railway will deliver 31 metro stations and more than 66kms of new metro rail, revolutionising the way Australia’s biggest city travels. Sydney’s Metro North-West, opened on 26 May 2019 as the first stage of the project, providing metro services to thirteen locations from Tallawong to Chatswood.
Stage two of the project will see the implementation of Sydney Metro City and South-West, a 30km extension of metro rail from Chatswood under Sydney Harbour, through new CBD stations and south-west to Bankstown. It is due to open in 2024, with seven new metro stations and eleven upgraded stations.
TSA Advisory was appointed by TfNSW in the role of Augmentation Transaction Director for the augmentation of the existing Sydney Metro North-west Rapid Transit (NRT) public private partnership (PPP) contract. This contract is the largest PPP in Australia with a value of over $12b. Our key personnel have advised Sydney Metro extensively on the optimal financial and contractual structuring for the project. Our team led the transaction for the sole source negotiation of the Operations Trains and Systems (OTS) stage two augmentation PPP, which achieved financial close in December 2019. Even though the two stages of Sydney Metro are procured under different contracts and several years apart, the OTS augmentation provisions allow it to operate as one integrated line.
Our services included:
- Development of the procurement and packaging strategy.
- Facilitation of market soundings, including the compilation of reports.
- Negotiation and development of the risk profile and commercial framework with the commercial team and legal advisor.
- Collaboration with the legal advisor on the development of the contract conditions and contract schedules.
- Development and release to market the full suite of procurement documents including the scope of works and technical requirements.
- Facilitation and management of the tender process including the evaluation of tenders.
- Conducting final negotiations with tenderers, including the closeout of commercial and technical issues prior to contract award.
TSA has continued involvement with the Sydney Metro Stage Two project, with team members undertaking roles such as Station Design Lead, Commercial Analyst and Rail Systems Manager.
66kilometres of metro rail