Corrs Chambers Westgarth has advised Aurizon on its interest in the public private partnership with the Commonwealth Government for the development and operation of the $1.5 billion Moorebank Intermodal Terminal (MIT) in South Western Sydney.
MIT will be developed by the Sydney Intermodal Terminal Alliance (SIMTA), a joint venture between Aurizon (33%) and Qube Holdings Limited (67%), across land owned by SIMTA and the Commonwealth.
Once developed, the Moorebank Intermodal Terminal will be the largest integrated warehouse rail terminal precinct in Australia and will help drive the shift in container movements from road to rail in the greater Sydney area.
Aurizon Managing Director and CEO, Lance Hockridge, noted in a recent statement that this project, “...provides clear commercial opportunities for private sector participants, has the potential to transfer a greater share of Australia’s freight from road to rail, as well as delivering a range of economic, environmental and social benefits. These are win-win outcomes this nation needs with long-run and productive freight transport infrastructure.”
Corrs multidisciplinary team advising on the deal to help bring the nationally significant greenfield infrastructure project to fruition was led by Corporate partner Stephanie Daveson with fellow partners Jeremy Horwood, Jay Andrews (Property), Simon Ashworth (Construction) and Rhys Jewell (Tax).
Corrs lead partner Stephanie Daveson said, “We are delighted to continue our commercial partnership with Aurizon, particularly on a transaction which paves the way for broader economic benefits for both New South Wales and Australia. We are excited to have been involved in the structuring of a project which seeks to deliver long-term advantages for both the public and private sectors alike.”
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