Finance sector to oversee electricity network scoping study

Published 15th July, 2014 in Economy, Infrastructure

UBS and Deutsche Bank have been hired to oversee a study assessing the benefits of a long-term lease of State-owned electricity assets.

Rural landscape with powerlines and poles
Rural landscape with powerlines and poles

The two international banks will advise the Government on the best way to use funds from the transaction to contribute to major infrastructure programs, including Rebuilding NSW.  

NSW Treasurer Andrew Constance said the Scoping Study will help the Government deliver on its plan to rebuild NSW, boost productivity and improve the lives of families across the state.

“We are seeking a mandate at the March 2015 election to undertake a long-term lease of 49% of the electricity network businesses, which is expected to unlock $20 billion in infrastructure funding, including $6 billion for regional NSW”, Mr Constance said.

“The long-term lease will unlock funds for a new Sydney Rapid Transit line, including a second harbour rail crossing and an extension of the North West Rail Link through the CBD and beyond to Bankstown”.

Published 15th July, 2014 in Economy, Infrastructure