Project

High Capacity Metro Trains - HCMT

PROJECT STATUS
Under Delivery
High Capacity Metro Trains - HCMT

The High Capacity Metro Trains (HCMT) project involves the construction, operation and maintenance of 70 new 10-car trains to the Sunbury-Dandenong rail corridor through the Melbourne Metro Tunnel.

The project is being delivered as an Availability Public Private Partnership.

The project's full scope includes:

  • design, construction and commissioning of 70 new 10-car HCMTs
  • design, construction and commissioning of a depot, a light service facility (LSF) and two simulators, and
  • maintenance and operation of the HCMTs, train maintenance facility, the LSF, and simulators for a 30-year term.

The propoent will also be required to provide of an option for the purchase of a further 35 HCMTs.

Key Dates

Jun 2015 EOIs Open
Aug 2015 EOIs Close
Nov 2015 Shortlist Announced
Nov 2015 RFP Open
May 2016 RFP Close
Sep 2016 Preferred Bidder Selection
Nov 2016 Contract Award
Nov 2016 Financial Close
Dec 2017 Construction Commencement
Dec 2020 Operations/Service Commencement
2025 Expected Construction Completion

Financing

Evolution Rail’s consortium members will each provide equity financing:

  • Downer (10 per cent)
  • CRRC (10 per cent)
  • Plenary (30.1 per cent), and
  • funds managed and advised by Partners Group (49.9 per cent).

Debt financing will be drawn through an eight-year, eight-month facility provided by:

  • Westpac
  • the Bank of China
  • the Bank of Communications
  • HSBC
  • ICBC
  • Intesa Sanpaolo
  • Mizuho, and
  • UOB.

Procurement

Procuring Agency: Department of Transport
Shortlist: Bombardier (Bombardier Transportation Australia, Macquarie Bank, ITOCHU and Infrared Capital Partners); Eureka Rail (Alstom, the Bank of Tokyo-Mitsubishi UFJ and John Laing); Evolution Rail (Downer EDI, Changchun Railway Vehicles and Plenary).
Successful Tenderer: Evolution Rail Consortium (Downer EDI, Changchun Railway Vehicles and Plenary).
Related contracts:
Commercial and Financial Advisor - Victorian Government
Successful Tenderer - PwC

Cost Consultant - Victorian Government
Successful Tenderer - Aquenta

Legal Advisor - Victorian Government
Successful Tenderer - Herbert Smith Freehills

Planning and Environment Advisor - Victorian Government
Successful Tenderer - AECOM

Technical Advisor - Victorian Government
Successful Tenderer - Indec

Transaction Advisor - Victorian Government
Successful Tenderer - Everything Infrastructure Group

PROJECT HISTORY

Jun 2015 Procurement commenced for the project, with the Victorian Government calling for Expressions of Interest, closing on 14 August.
Nov 2015 The Victorian Government announced that three consortia had been shortlisted for the project.
Nov 2015 The Victorian Government issued a Request for Proposals from shortlisted bidders, closing on 20 May, 2016.
Sep 2016 The Victorian Government announced the Evolution Rail Consortium, comprising Downer EDI, Changchun Railway Vehicles and Plenary, as the preferred bidder for the project.
Nov 2016 The contract was formally awarded the Evolution Rail Consortium.
Dec 2020 The first HCMT commenced services on the Pakenham line.
Oct 2023 HCMTs were introduced on the Sunbury Line.
Estimated Total Cost
(2017)
Sector
Rail
Procurement approach
Confirmed PPP |
Location
Victoria |
Resources
Government resources
Project Summary - February 2017