Partners
AMP Capital’s managed interest in Reliance Rail is 66.67%, having increased from 33.99% in the 2017 recapitalisation. They are one of Australia and New Zealand’s largest infrastructure investment managers, with over A$20 billion in funds under management. They are a sophisticated PPP investor, having invested in over 140 infrastructure equity and debt investments globally since 1988, including the largest PPP portfolio in Australia. Their investment is split, with 48.89% in AMP Capital Diversified Infrastructure Trust B, and the remaining 17.78% in REST Infrastructure Trust.
International Public Partnerships (INPP) managed interest in Reliance Rail is 33.33%, having increased from 17.01% in the 2017 recapitalisation. They are an LSE listed infrastructure investment company, holding interests in 130 high quality infrastructure projects and businesses in the UK, Europe, Australia and North America. INPP’s PPP portfolio in Australia includes schools, hospitals and public transport projects. INPP’s interest in Reliance Rail is managed in Australia by Amber Infrastructure Group. Amber Infrastructure is a leading international sponsor and manager of infrastructure-focused investments, and has a well-established reputation in the origination, development and management of specialist infrastructure.
Sydney Trains is the passenger rail operating agency under Transport for NSW, working for the metropolitan Sydney area. They have 3,200 timetabled trips providing 1.3 million passenger journeys each weekday and an annual patronage of 375 million.
The Sydney Trains operating network currently covers 175 stations and 935km of electrified track. They are also responsible for the maintenance of assets including tracks, other train fleets, signals, overhead wiring, stations and facilities. Sydney Trains is the off-taker under the Project Contract (this was formerly RailCorp). Their performance obligations under the Project Contract are guaranteed by the AAA-rated NSW Government.
Reliance Rail subcontracts all aspects of the availability, maintenance and TLS service requirements for the Waratah Trains and associated infrastructure to EDI Rail PPP Limited, a wholly owned subsidiary of Downer Rail. To guarantee its performance obligations under the TLS Contract, Downer provides a performance bond (currently $81.9m) as well as a parent company guarantee (~$400m).
Downer Rail, part of the ASX listed Downer Group, is a top-tier provider with a proven track record, strong rail capability and extensive experience in the Australian and Sydney passenger rail environment. They have over 100 years of experience delivering total rail asset solutions in the passenger and freight markets, employing more than 1,400 people at approximately 20 sites across Australia.