Allens advises on $11 billion Metro Tunnel

Allens has advised the financiers to the Cross Yarra Partnership on the successful close of the Metro Tunnel Package and related packages of the $11 billion Melbourne Metro Project.

The Melbourne Metro Project is a city changing initiative for Melbourne. A significant step towards a 'turn up and go' train service, the project will unlock the metropolitan train network enabling 39,000 more passengers to use the rail system during each peak period and will improve the city's interconnectivity – including through Melbourne's world-leading medical and education precincts.

Partners David Donnelly and Michael Ryan, who led the Allens team, were delighted to play a role in delivering this landmark project.

The transaction caps off another strong year for Allens' project finance team which continues to top league table results and is active on projects across the key sectors of the Australian economy.

'We are extremely proud to have supported the financiers and Cross Yarra Partnership on what will be a transformational project for the City of Melbourne and the largest rail infrastructure project in Australia for decades. It is a great example of the continued strength and depth of the project finance market in Australia that such a large and diverse group of institutions have supported this landmark project,' said Michael Ryan, Head of Project Finance.

'The project is the centrepiece in Victoria's transport plan and holds together all the recent transport projects delivered across the State', said David Donnelly, Head of Transport and Infrastructure.

'It has been a busy quarter for the infrastructure sector, particularly in Victoria. Allens has closed the Casey Hospital Expansion, achieved contractual close on the Western Roads Upgrade, worked with the GEO Consortium to achieve Commercial Acceptance on the Ravenhall Prison PPP and advised on the financing of the $6.7 billion West Gate Tunnel Project.'

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