Gold Coast Rapid Transit Gold Coast, Queensland, Australia

The Gold Coast Rapid Transit will consist of 14 vehicles and 16 stations servicing a 13 kilometre route between the Gold Coast University Hospital and Broadbeach; part of one of the fastest growing regions in Australia.

This is Queensland's first light rail system and is considered more than just a transport project but also a City Building project to support sustainable development on the Gold Coast, reduce congestion and improve connectivity between major activity centres

Patronage numbers are expected to grow to 50,000 passengers per day and GoldLinQ has in-built capacity to cater for up to 75,000 passengers per day.

Plenary Group is part of the GoldLinQ Consortium which was selected by the Queensland Government to design, build, finance, operate and maintain a light rail public transportation system. Construction will commence in early 2012 and the first passengers will board the GCRT in 2014.

Project Facts

Plenary Group is the equity investor and financial arranger for the project.

Location: Gold Coast, Queensland, Australia
Client: Queensland Government
Value (NPV): A$1 billion
Builder: McConnell Dowell Constructors (Aust.) Pty Ltd
Lead Engineer: Bombardier Transportation Australia Pty Ltd
Maintenance: KDR2 Gold Coast Pty Ltd
Contractual Close: June 2011
Service Commences: June 2014
Duration: 18 years

Design Features

The Trams that will service the route will be Bombardier Flexity Gold Coast Tram that have been designed to travel at up to 70km/hr. Standing 3.4 metres high, 2.65 metres wide and 43.5 metres long they are bidirectional with a cab at each end.

Designed for a passenger capacity of 309 people, they feature air conditioning, wheelchair and multipurpose areas and surfboard racks.

Innovations

The tendering of the GCRT project during a time of significant constraint in financial markets (following the GFC in 2008) necessitated innovation in the development of an efficient financial structure . Plenary Group coordinated, on behalf of GoldLinQ, a group of exclusively foreign banks, in conjunction with EDC, a Canadian export credit agency. The outcome was a senior debt package that extended for the full term of the project, significantly mitigating risks associated with a refinance.

The GoldLinQ consortium also called for careful commercial and contractual structuring to ensure that delivery and operational model was robust enough to support a PPP-financing structure. This was done in a way that still afforded significant flexibility to the State of Queensland around operational models and also in contemplation of future expansion of the network.

Local Economic Impacts

Job Creation

Some 390 new positions will be directly engaged by GoldLinQ itself in the delivery of the project, and of these, 140 new jobs will be required to run the light rail system for many years into the future.

The project will also require local contractors and subcontractors to complete major work packages that will be tendered out by GoldLinQ. Here, the Queensland Government estimates that the project will create some 6,000 direct and indirect jobs for Queensland.

GoldLinQ will be targeting close to 80% of procurable goods and manpower resources from within the local market.

Urban Renewal

The project will generate a number of social, environmental and economic benefits for the city including:

reducing local greenhouse gas emission by 114 000 tonnes over the first 10 years of operation
reducing the number of private vehicle trips by up to 10 per cent
providing a frequent, affordable and reliable alternative to car travel
contributing to a fully integrated public transport system for the Gold Coast.

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Gold Coast Rapid Transit Gold Coast, Queensland, Australia

Job Creation

Urban Renewal