01 Apr 2022
GOLD COAST, AUSTRALIA – Financial close has been achieved on the $1.2 billion Gold Coast Light Rail Stage 3.
Stage 3 will deliver a 6.7-kilomentre extension south of the existing G:link network with eight new stations, five additional light rail vehicles, new bus and light rail connections at Burleigh and Miami and an upgrade of the existing depot and stabling facilities.
The Gold Coast Light Rail project is a public-private-partnership between the Queensland Government and GoldlinQ, the consortium that has successfully delivered the design, construction, finance, operations and maintenance of the project since 2011.
GoldlinQ chairman John Witheriff said local contractors and workers had already been engaged on stage three during early works.
“We want this to be another local project built by local workers to benefit the city during construction and once it is operational,” Mr Witheriff said.
“From previous stages of light rail construction, we understand the importance of locating underground services as this minimises delays once major works commence, and this has been the focus of early works.
“We also understand the importance of working closely with businesses and residents along the corridor and this will continue to be a priority throughout the construction and commissioning period.”
Plenary Chief Executive Officer David Lamming said the expansion will only increase the popularity of a service that has changed the way people on the Gold Coast live and move.
“G:link has supported sustainable development, reduced congestion and improved connectivity between major activity centres along the coast since opening in 2014,” Mr Lamming said.
“Its success has made it something of a transport planning exemplar, regularly cited by urban planners as an example of how to successfully deliver transformative projects in growing cities.
“It has greatly improved liveability and eased congestion while supporting economic growth, and this expansion will only add to the appeal.”
In addition to the private financing component, the project received funding from the Australian and Queensland governments and the City of Gold Coast.
The light rail has been planned for delivery in multiple stages with Queensland Government and City of Gold Coast planning documents in 1997 identifying a 42-kilometre mass transit corridor along the coastal route connecting Helensvale to Coolangatta.
The Gold Coast Light Rail system currently has 19 stations from Helensvale to Broadbeach serviced by 18 G:link trams.
At completion of Stage 3, the operating system from Helensvale to Burleigh Heads will be 27 kilometres with 27 stations serviced by 23 trams.
G:link is transforming the Gold Coast by providing a world-class public transport service that is safe, comfortable, reliable and positioning the city for sustainable growth.
Plenary is commercial adviser and financial adviser to the GoldlinQ consortium and investor in the project.