Gold Coast Rapid Transit Project

Finance for the $1 billion Gold Coast Rapid Transit (GCRT) Project was confirmed on 1 June, signalling the start of the first Australian public private partnership to be completely financed by foreign funds.

The project demonstrates the benefits of PPPs to governments and establishes a positive precedent for future public transport projects and possible extensions to the GCRT.

The GoldLinQ consortium will build and operate the 13-kilometre light rail system that will connect the key coastal corridor centres of Griffith University, Gold Coast University Hospital, Southport, Surfers Paradise and Broadbeach.

Queensland Premier Anna Bligh has said the project will “deliver light rail to the Gold Coast and more than 6,300 direct and indirect jobs”.

From the project’s inception in 2007, Corrs advised the Queensland Department of Transport and Main Roads on how to get the most value for money during bid evaluations, government stakeholder consultations and in finalising the project contracts with GoldLinQ.

Corrs also worked on tenure options, legislative amendments, planning and approvals, project contracts, risk allocation and procurement strategies.

Corrs’ advice helped to navigate unique challenges stemming from the GCRT being the State’s first light rail system in more than 40 years, the first public transport PPP, and the only Queensland PPP to be mainly constructed above ground through an established urban environment.

The Gold Coast Rapid Transit will operate in a tightly-constrained urban corridor with heavy traffic, resulting in close contact with the local community and businesses. Corrs has drawn on its national PPP experience to develop innovative measures to mitigate the project’s impact.

Innovation has been essential to the GCRT Project because many of the legal, policy and commercial issues confronted have no precedent. For example, this is the first time a project of this type has involved rail safety accreditation - a situation further complicated by moves towards national harmonisation, and likely national regulation, subjecting safety accreditation to new, untested Queensland legislation.

Corrs also provided extensive advice to the Queensland Government on legislative amendments required to deliver and operate the project.

The project is being delivered by the State of Queensland in partnership with the Australian Government and Gold Coast City Council. This means it has been necessary to finalise and document funding arrangements between the three tiers of government and to ensure the project contracts meet local and federal government funding requirements.

Corrs has consulted extensively with a broad range of Queensland Government departments and authorities to develop project documents that meet the requirements of all Government stakeholders.

Early construction works have commenced with passenger services scheduled to commence in 2014.

Ichthys Gas Field Development Project

Corrs is advising the majority shareholder, INPEX Browse Ltd, on the $24 billion Ichthys Gas Field Development project, representing the largest ever initial investment in an Australian resources project. A final investment decision on the project is expected by the end of 2011.

Corrs has worked with Inpex on various aspects of the project including the Onshore Front-End Engineering Design (FEED) contract.  Throughout, Corrs’ role has involved clearly assessing potential legal, regulatory, construction and procurement issues and devising effective structures and contracts to mitigate potential risks.

NBN Co Limited

The national broadband network is the largest infrastructure project ever undertaken in Australia, and the establishment of the government-owned NBN Co Limited has involved a broad range of legal issues. As a provider of workplace law services to NBN, Corrs has been advising on innovations including a best practice framework for internal regulation of employment of thousands of people, and a strategic industrial relations framework involving unions. Specific legislation, government guidelines and NBN’s drive for high standards of performance and safety have added layers of complexity to employment law issues including contracting, compliance and privacy, and occupational health and safety matters.