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Government Decision to Terminate Speedrail Bid
Issue Date: 13 December 2000Issued By: The Speedrail Group
The Speedrail consortium is extremely disappointed with the Federal Government’s decision not to proceed with the very high speed train link between Sydney and Canberra.
Over the past four years, the Speedrail consortium partners, Leighton Contractors and ALSTOM have invested heavily in the project. Work has included development of extensive engineering plans, patronage studies, train operations plans, the resolution of issues such as the difficult access through the Sydney suburban rail network, and the preparation of a detailed commercial offer for the creation and operation of the business.
This work confirmed that the project was technically and commercially viable and met the no net cost to taxpayer requirement.
The decision not to proceed with the first stage of a very high speed rail network is a huge setback for the nation, particularly regional Australia.
Participation by Speedrail in any future feasibility or scoping studies will depend on the detail of the proposal including commercial terms.
Sydney-Canberra VHST project – development timeline:
1994-1995
Commonwealth, NSW and ACT Governments contribute funding for pre-feasibility study by Speedrail into very high speed train (VHST) link between Sydney and Canberra.
Dec 1996
The three governments agree on a competitive process for private sector involvement in development of a VHST link between Sydney and Canberra.
Feb 1997
Joint governments call for Expressions of Interest from the private sector.
April 1997
Expressions of Interest submitted.
Oct 1997
Shortlist of six bidders announced and detailed proposals called for. Each proponent is required by government to pay $100,000 to participate in this phase.
April 1998
Four bidders submit detailed proposals.
Aug 1998
Prime Minister announces Speedrail consortium as the single preferred proponent.
Mar-Nov 1999
Speedrail “proving up” phase including extensive consultation with Commonwealth, NSW, ACT and local government authorities.
Nov 1999
Detailed proposal submitted to government which confirms that the project is technically and commercially feasible and meets the “no net cost to taxpayers” requirement.
Dec 2000
Federal Cabinet consideration of Speedrail proposal.
Media contact:
Brian Tyson or Suzanne Mercer
Gavin Anderson & Company
Tel: (02) 9552 4499 (24 hours)
Over the past four years, the Speedrail consortium partners, Leighton Contractors and ALSTOM have invested heavily in the project. Work has included development of extensive engineering plans, patronage studies, train operations plans, the resolution of issues such as the difficult access through the Sydney suburban rail network, and the preparation of a detailed commercial offer for the creation and operation of the business.
This work confirmed that the project was technically and commercially viable and met the no net cost to taxpayer requirement.
The decision not to proceed with the first stage of a very high speed rail network is a huge setback for the nation, particularly regional Australia.
Participation by Speedrail in any future feasibility or scoping studies will depend on the detail of the proposal including commercial terms.
Sydney-Canberra VHST project – development timeline:
1994-1995
Commonwealth, NSW and ACT Governments contribute funding for pre-feasibility study by Speedrail into very high speed train (VHST) link between Sydney and Canberra.
Dec 1996
The three governments agree on a competitive process for private sector involvement in development of a VHST link between Sydney and Canberra.
Feb 1997
Joint governments call for Expressions of Interest from the private sector.
April 1997
Expressions of Interest submitted.
Oct 1997
Shortlist of six bidders announced and detailed proposals called for. Each proponent is required by government to pay $100,000 to participate in this phase.
April 1998
Four bidders submit detailed proposals.
Aug 1998
Prime Minister announces Speedrail consortium as the single preferred proponent.
Mar-Nov 1999
Speedrail “proving up” phase including extensive consultation with Commonwealth, NSW, ACT and local government authorities.
Nov 1999
Detailed proposal submitted to government which confirms that the project is technically and commercially feasible and meets the “no net cost to taxpayers” requirement.
Dec 2000
Federal Cabinet consideration of Speedrail proposal.
Media contact:
Brian Tyson or Suzanne Mercer
Gavin Anderson & Company
Tel: (02) 9552 4499 (24 hours)