La Caisse spends more than $ 2 billion on a highway in Australia

La Caisse spends more than $ 2 billion on a highway in Australia

Caisse de depot et placement du Québec (CDPQ) announced on Sunday evening that AUS has decided to invest $ 2.3 billion (approximately CAN $ 2.1 billion) on the highway serving Sydney, Australia.

To do this, Caisse has joined the group of investors Sydney Transport Partners (STP), a joint venture with Transparency, an Australian infrastructure management company.

The investors decided to buy AUS for $ 11.1 billion, the second half of the West Conex motorway project, which is 49% owned by the state of New South Wales, which has located Sydney where it is located. In doing so, 100% of the project will now be owned by the STP, including the share of Gais representing 10%.

The West Conex Motorway network aims to improve road links west of Sydney, build 37km of new roads and revitalize existing 33km of existing areas. The network connects the suburbs of the metropolis, including its airport and port botany.

“West Conex plays an important role for Sydney residents, providing faster, safer and more efficient routes,” said Emmanuel Jacquel, senior vice president and infrastructure leader at CDPQ.

“Through a network of new tunnels, Westconnex provides underground alternatives to users, restoring surface roads to their primary function as neighboring streets.

By 2031, 40% of Sydney residents are expected to live within 3 miles of West Connex.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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