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The funding decision followed a two-
phase market testing process led by the
Department of Finance and Macquarie
Capital undertaken in late 2016 and early
2017 to consider opportunities for private
sector involvement.
This process identified a preferred model
involving delivery of Inland Rail through
ARTC, with a Design, Build, Finance and
Maintain (DBFM) structure for the Gowrie to
Kagaru section of the project in Queensland.
A number of environmental and planning
approvals have also progressed relating to
the program, with the major milestone being
the Parkes to Narromine Environmental
Impact Statement (EIS); and three
Queensland projects being declared
coordinated projects by the Queensland
Coordinator General.
Engineering design and early consultation
activities have also been achieved readying
a number of the sub-projects to contract
award stage.
We acknowledge the support of a range
of stakeholders including the logistics and
freight industry, our nation’s farmers and
other regional communities and leaders in
Victoria, New South Wales and Queensland
that have recognised the criticality of the
project in the face of the nation’s growing
freight demand. We also acknowledge
the Government’s visionary leadership
in supporting the project.
In time, Australia will undoubtedly reflect
on the Government’s investment to be
equivalent to other iconic infrastructure such
as the Snowy Mountains Hydro-Electric
Scheme, given the transformative effect it
will have on our nation.
—STRENGTHENED
GOVERNANCE FROM
THE BOARD DOWN
Through the year, we have strengthened
our governance from the Board down in
readiness for delivering on the Inland Rail
project as well as other Shareholder priorities.
To this end, we welcome Jennifer Seabrook
and David Saxelby as non-executive directors
to the company. Both of these directors
bring substantial experience and the right
skill mix to support the future needs of the
business, in so doing complementing the skills
of existing members of the Board.
The company also commenced an Australian
and worldwide search for the CEO of Inland
Rail, as well as redefining governance to
support the delivery of the project.
The governance approach applies insights
from a number of other national and
internationally recognised ‘mega-projects’.
We are working closely with the Departments
of Infrastructure and Regional Development
and Finance to develop and implement this
framework.
Our governance approach is supported
by key documents between the Australian
Government and ARTC, which include:
A Statement of Expectations; An Equity
Funding Agreement and a Project
Development Agreement.
Delivering value for money, ensuring a
transparent process and fostering growth
in regional Australia will be important
considerations.
In addition, the Australian Government
intends to agree Intergovernmental
Agreements with the Victorian, NSW and
Queensland State Governments to progress
the project.
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