Coast's airport partner search now a two-horse race

UPGRADE: Reports the the race to build the Coast's new airport is down to two parties.
UPGRADE: Reports the the race to build the Coast's new airport is down to two parties. Warren Lynam

NATIONAL media is reporting the race to be named as partner in the Sunshine Coast Airport expansion has been whittled down to two.

Palisade Investment Partners and Infrastructure Capital Group have been named by the Australian Financial Review as the two firms vying to team up with the Sunshine Coast Council to deliver the $347 million project, with final bids reportedly due by December 5.

The reports come only days after the council succeeded in securing a $181 million concessional loan from the Federal Government to assist with construction of the airport upgrades.

A Sunshine Coast Council spokeswoman said the commercial partnership bid process was presently underway and the Council couldn't comment any further on this matter at this time. 

Mayor Mark Jamieson last week said he hoped to have a project partner confirmed before Christmas, but added he was not privy to the details due to probity reasons, the process being conducted by the council's advisor, Royal Bank of Canada Capital Markets.

A member of RBC Capital Markets' infrastructure team was also unable to provide "any further colour" on how the investment partner search process was progressing.

So who are the two players reportedly facing off for the deal?

Palisade Investment Partners:

Manages investments in assets in the transport, energy, utilities, renewables, agri and social sectors.

Transport assets include ANZ Terminals (bulk liquid storage facilities), Port of Portland (deepwater port in Victoria), Airport Development Group (Darwin International and Alice Springs airports) and Gold Coast light rail project.

Infrastructure Capital Group:

Assets include a range of energy projects, including Gas Pipelines of Victoria, Flinders Ports, Wattle Point Wind Farm and Newcastle Coal Infrastructure Group.

Diversified Infrastructure Trust includes Port Hedland International Airport and in July sold its 100% interest in Sydney's ANZ Stadium to the New South Wales Government.

Topics:  airport infrastructure sunshine coast sunshine coast airport expansion travel

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