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Major Projects & Infrastructure » Social Infrastructure
Financial constraints on governments have constricted the pipeline of future social infrastructure projects requiring government support.
Although governments recognise the need to develop or upgrade social infrastructure, the continuing push to restrain public debt has kept the focus on tight margins and flexible, risk-appropriate structures.
Project participants must develop innovative and flexible approaches that meet the government’s ongoing push to minimise debt exposure.
Operating this way requires an understanding of which structures have framed successful Australian and overseas social infrastructure projects, knowing what a government wants to achieve and then developing tailored models that meet the social, financial and wider economic criteria are key to successful social infrastructure projects.
Corrs’ depth of international and local experience in public projects provides the expertise to analyse, evaluate and explain the most complex structures, extract the useful elements and devise the best frameworks to deliver each type of social infrastructure venture – be it schools, hospitals, housing or prisons.
Our Experts
Our Experience
Bonnyrigg Living Communities PPP
The A$733 million Bonnyrigg Living Communities Project posed legal transactional obstacles with no Australian precedent. It was Australia’s first privately financed social housing project (and the first social housing PPP), involving both public housing and development and sale of private housing. Innovative methods of structuring the project vehicle were required to meet financial hurdles, including equity and debt arrangements. This project won the 2007 CFO Magazine “Project Finance Deal of the Year”. Corrs also received the 2008 National Infrastructure Award for “Advisory Excellence” from Infrastructure Partnerships Australia.
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Mundaring Water Treatment Plant
The Water Corporation of Western Australia completed its first Public Private Partnership (PPP), the A$306 million Mundaring Water Treatment Plant (MWTP), under advice from Corrs Chambers Westgarth.
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First PPP for New Zealand
New Zealand has its first major Public Private Partnership (PPP), a 960-bed prison in Wiri, South Auckland, which will focus on rehabilitation and making communities safer.
MoreOur Thinking
Infrastructure early stage tax losses - Welcome reform but issues remain
The draft legislation on tax loss incentives for infrastructure projects is welcome, but gaps remain.
More
Joint ventures are a smart way for local governments to beat funding constraints
Queensland local governments have an ace up their sleeve when it comes to raising funds for critical infrastructure.
More
The infrastructure deficit - Is Islamic finance part of the solution?
Australia’s “infrastructure deficit” is significant. Some estimate that, over the next decade, the difference between our infrastructure needs and available government resources could blow out to as much as $770 billion.
More Download
Contractor beware: ICT contracting for PPPs
Governments are increasingly looking to public private partnerships to solve the ever growing demand for new hospitals in Australia.
More
Eurozone crisis may have a silver lining for Australian infrastructure
The Eurozone crisis is of fundamental concern for global economic stability. How should Australia respond?
More
Dispute or deadlock? Be prepared.
There have been a lot of lessons learned about joint venture mechanisms since the GFC. But not about deadlock procedures, even though they’re now more important than ever.
More
Solving the infrastructure dilemma - It’s all about sharing
Australia’s pressing need for infrastructure is well known. Government has less money and private enterprise has less appetite for risk. With these two factors a certainty, infrastructure experts at Corrs Chambers Westgarth agree change must come.
MoreOur Experience
Bonnyrigg Living Communities PPP
The A$733 million Bonnyrigg Living Communities Project posed legal transactional obstacles with no Australian precedent. It was Australia’s first privately financed social housing project (and the first social housing PPP), involving both public housing and development and sale of private housing. Innovative methods of structuring the project vehicle were required to meet financial hurdles, including equity and debt arrangements. This project won the 2007 CFO Magazine “Project Finance Deal of the Year”. Corrs also received the 2008 National Infrastructure Award for “Advisory Excellence” from Infrastructure Partnerships Australia.
Corrs assisted the Consortium to incorporate new planning methods and tenancy management techniques into their proposal. These enhanced the standard suite of PPP documents, while still mitigating both risk and liability. Corrs was also instrumental in facilitating the passage of legislation for financial close to occur.
Mundaring Water Treatment Plant
The Water Corporation of Western Australia completed its first Public Private Partnership (PPP), the A$306 million Mundaring Water Treatment Plant (MWTP), under advice from Corrs Chambers Westgarth.
The complex MWTP deal, only the second PPP in WA, was recognised with the “Government Partnership Excellence Award” by Infrastructure Partners Australia (IPA) at their Annual Infrastructure Oration and 2012 National Infrastructure Awards.
The successful project has set a positive precedent for using a PPP model for future greenfield projects.
First PPP for New Zealand
New Zealand has its first major Public Private Partnership (PPP), a 960-bed prison in Wiri, South Auckland, which will focus on rehabilitation and making communities safer.
The SecureFuture consortium will design, finance, build, operate and maintain the prison on behalf of the New Zealand Department of Corrections. Fletcher Construction, part of the consortium, will design and construct the prison. Corrs drew on its considerable major projects and infrastructure expertise and understanding of the key issues involved in PPPs to deliver incisive legal and commercial advice to Fletcher from the early bid stage through to financial close.
The project involved integrating PPP principles from multiple jurisdictions, including the UK and Australia. The result was an innovative risk allocation that reflected New Zealand-specific requirements while providing enough comfort for the international market to ensure the project was bankable.
Our Thinking
Solving the infrastructure dilemma - It’s all about sharing
Australia’s pressing need for infrastructure is well known. Government has less money and private enterprise has less appetite for risk. With these two factors a certainty, infrastructure experts at Corrs Chambers Westgarth agree change must come.
Dispute or deadlock? Be prepared.
There have been a lot of lessons learned about joint venture mechanisms since the GFC. But not about deadlock procedures, even though they’re now more important than ever.
Eurozone crisis may have a silver lining for Australian infrastructure
The Eurozone crisis is of fundamental concern for global economic stability. How should Australia respond?
Infrastructure Reform in Queensland Part 1 - Solutions for the 21st Century
Important infrastructure projects in Queensland are being hampered by outdated legislation which is in urgent need of reform.
Contractor beware: ICT contracting for PPPs
Governments are increasingly looking to public private partnerships to solve the ever growing demand for new hospitals in Australia.
The infrastructure deficit - Is Islamic finance part of the solution?
Australia’s “infrastructure deficit” is significant. Some estimate that, over the next decade, the difference between our infrastructure needs and available government resources could blow out to as much as $770 billion.
Joint ventures are a smart way for local governments to beat funding constraints
Queensland local governments have an ace up their sleeve when it comes to raising funds for critical infrastructure.
Infrastructure early stage tax losses - Welcome reform but issues remain
The draft legislation on tax loss incentives for infrastructure projects is welcome, but gaps remain.
Our Experts
Alan Churley
Partner Perth +61 8 9460 1660Andrew Chew
Partner Sydney +61 2 9210 6607Beverly Kennedy
Partner Melbourne +61 3 9672 3404Brad Robinson
Partner Melbourne +61 3 9672 3550Clare Corke
Partner Melbourne +61 3 9672 3255David Warren
Partner Melbourne +61 3 9672 3504Greg Hassall
Partner Brisbane +61 7 3228 9359Jeremy King
Partner Melbourne +61 3 9672 3431John Letizia
Special Counsel Brisbane +61 7 3228 9749John Walter
Partner Melbourne +61 3 9672 3501Joseph Barbaro
Partner Melbourne +61 3 9672 3052Paul Carrick
Partner Sydney +61 2 9210 6353Peter Calov
Partner Sydney +61 2 9210 6215Peter Schenk
Partner Brisbane +61 7 3228 9869Robert Regan
Partner Sydney +61 2 9210 6620