Hong Kong rail giant the MTR Corporation has won a bid as part of a consortium to design and build a metro station and develop property in Sydney’s second central business district in Australia.
The corporation said on Tuesday that it and its two partners – both subsidiaries of Malaysian engineering firm and developer Gamuda Berhad – won the bid as the joint-venture Riverside Link Consortium, with Australian media reporting the deal was worth A$880 million (HK$4.99 billion).
The deal is a major part of the Sydney Metro West project in the state of New South Wales.
It will be key to the growth and development of Parramatta, a commercial and financial centre located 24km (15 miles) west of Sydney and regarded as the city’s second central business district.
“The project provides an opportunity for the MTR to apply our experience in integrating transport infrastructure with residential, commercial and community development opportunities to create well-connected, vibrant and people-focused urban precincts,” the MTR Corp’s managing director for property and international business, David Tang Chi-fai, said.
The joint venture will be responsible for designing and building the Parramatta metro station by 2032. The facility is expected to cut train travel times from Parramatta to Sydney’s city centre to about 20 minutes.