‘No turning back’ on Cross River Rail with Pulse contract signed
Treasurer Jackie Trad says the Palaszczuk Government’s signature project is now guaranteed to go ahead after a construction contract worth almost $3 billion was signed between the State and a private consortium as part of the $5.4 billion plan.
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THE contract to build the Palaszczuk Government’s signature $5.4 billion Cross River Rail has been signed with Treasurer Jackie Trad declaring there is no turning back.
The Courier-Mail can reveal the construction contract between the State and the Pulse consortium for the almost $3 billion public-private partnership to build the project’s rail tunnel and new stations was signed on Sunday.
Financial close will be reached when banks open on Monday.
Ms Trad said the move meant the project was now guaranteed.
“Once the contracts are signed and financial close is achieved there is no turning back,” Ms Trad said.
“Cross River Rail will be built and it will benefit every single heavy rail commuter throughout southeast Queensland.”
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Ms Trad said the construction timetable remained on track with the Go-Print site at Woolloongabba to become a staging area for the tunnel boring machines and roadheaders before a new underground station and high-rise apartments are built.
“It now means we can move to the (Roma Street) Transit Centre site. We can start demolition on that site very soon, before the end of the year. Then construction, actual groundbreaking construction, will occur next year.
“This project will create 7700 jobs during construction, and we expect to see those jobs starting in the next couple of months.”
The State has pledged to ensure trains are running on the underground line by 2024.
The PPP to build the 5.9km tunnel and four new underground stations at Boggo Rd, Woolloongabba, Albert St and Roma St is estimated to be worth about $2.7 billion.
The Pulse consortium, including CIMIC Group companies, Pacific Partnerships, CPB Contractors, and UGL with international partners DIF, BAM, and Ghella Investments & Partnerships, won the bid in April.
“We will finance, design, construct and maintain the new tunnels and rail stations, in partnership with the State Government, to deliver world class rail assets and services for South East Queensland,” CIMIC Group Chief Executive Office Michael Wright said.
The Government will make availability payments to the consortium under the PPP arrangement.
Ms Trad’s Budget last month revealed for the first time that the private sector was expected to chip in $1.479 billion to the project, while the State Government will continue to fund its $5.409 billion share.
The 10.2km rail line from Dutton Park to Bowen Hills, which will also include upgrades to the Dutton Park and Exhibition stations, is expected to provide an extra 18,000 seats into Brisbane during the morning peak and save commuters up to 15 minutes off their journey.
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