KfW IPEX-Bank finances expansion of light rail system for Gold Coast/Australia

As part of a club deal arranged with five other international banks, KfW IPEX-Bank has structured and closed the financing needed to expand the Gold Coast light rail system in Queensland, on the east coast of Australia. At the same time, the project finance that was concluded in 2011 for Stage 1 of the system was successfully refinanced with the participation of KfW IPEX-Bank.

The expansion of the line, which has been operating successfully since 2014, by an additional 7.3km including three new stops and 1400 parking spaces, was commissioned by the Queensland Government and constitutes an important milestone in the upgrading of the city's public transport system ahead of the 2018 Commonwealth Games. CPB Contractors (formerly Leighton Contractors), a subsidiary of the CIMIC Group, which in turn belongs to Germany's Hochtief Group, has been commissioned to carry out the construction work for the new stretch of track.

Rolling stock and signalling technology deployed on the line are provided exclusively by Bombardier Transportation. The trams will be of the 'Flexity' type, whose design has been adapted to Australian specifications. One example of these adjustments is the adaptation of the luggage racks to accommodate surf boards, a common transport item on the Gold Coast. In a joint venture with the Australian company Downer EDI, French local transport operator Keolis will continue to operate the light rail system.

For over fifteen years, KfW IPEX-Bank has been one of the world's leading financing specialists in the area of rail transport, thus contributing to the global development of sustainable forms of mobility. With this new financing, it is helping to promote the sale of German and European vehicle technology worldwide, while strengthening its position in the Australian market.