A global transport infrastructure developer and an Australian infrastructure operator have established a joint venture in the Australian and New Zealand road infrastructure market.
Ferrovial, through subsidiary Cintra, and Australian operator Plenary, have established the joint venture, Netflow.
Cintra CEO, Enrique Diaz-Rato, said, “In Plenary we have found a partner with a similar approach to infrastructure development and management, and we look forward to growing a portfolio of road projects together.”
Paul Oppenheim, CEO of Plenary, said the agreement is an opportunity to enhance their footprint in the Australian market.
“The adaptation of our active equity approach to infrastructure projects complements Cintra´s investment approach. Our recent experience demonstrates that a focus on competition, innovative design, and customer focused operations leads to success,” Mr Oppenheim said.
The two partners are currently members of the Nexus Infrastructure consortium, which is developing the Toowoomba Second Range Crossing, worth 1.6 billion Australian dollars.
Netflow aims to benefit from the construction experience of Ferrovial Agroman, which is expanding in Australia, where it is building the Toowoomba Second Range Crossing and two sections of the Pacific Highway.
Phil Dreaver, a founding director of Plenary’s North American business, has been appointed Managing Director of Netflow.
Cintra currently manages over 1,880km of toll roads in 26 concessions in Canada, the US, Europe, Australia and Colombia.
Plenary Group is involved in such projects as Sydney Metro Northwest and the High Capacity Metro Trains project in Melbourne.
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