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3 December 2013 Transmission Gully PPP Bid Unsuccessful

3 December 2013

TRANSMISSION GULLY BID



We advise that the PIP Fund’s consortium for the Transmission Gully PPP project, “Positive Connection”, was not selected as preferred bidder. The competing bidder “Wellington Gateway Partnership*” has been invited to the next round.

(*The Wellington Gateway Partnership is comprised of firms and investors including Leighton Contractors Pty Ltd, HEB Construction Ltd, InfraRed Infrastructure General Partner Ltd, The Bank of Tokyo-Mitsubishi UFJ Ltd, and the Accident Compensation Corporation (ACC).)


The final PPP contract is to be awarded in mid-2014.


For further information please read the press release here.


Although a disappointing outcome following an intensive submission process, the PIP Fund will now focus on a number of other NZ PPP projects, and some large Australian PPP investment opportunities.

Kim Ellis

Chairman

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