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Infrastructure

This Month

The cost to rebuild Ukraine, whenever the war ends, will take longer and be more expensive than expected.

The cost of war goes well beyond rebuilding infrastructure

Wars cripple foreign trade, consumption and investment. They destroy wealth and economic output. Costs mount on the back of security and defence, alongside displaced citizens who need food, medicine and shelter.

  • The Lex Column
Townships in Pennsylvania have won a court case against the state transportation department after protesting plans to impose toll fares on 
bridges to pay for repairs.

Macquarie’s US bridge repair scheme hits court roadblock

Local communities claimed the scheme would have led to tolls on nine bridges and encouraged tolls on other bridges and motorways, as well as shifting traffic to local free roads.

  • Jenny Wiggins
Rising prices for the steel, cement and other materials used to build Snowy 2.0 are pushing up costs.

Rising wages, materials costs create ‘perfect storm’: Snowy builder

Contractors grappling with high transport and materials costs as well as rising wages want more mechanisms to manage price risks, says the Italian builder of Snowy 2.0.

  • Jenny Wiggins

June

The Andrews government is set to privatise VicRoads through a new joint venture.

Morrison consortium in driver’s seat at VicRoads

Infrastructure manager Morrison & Co is understood to have hit the lead in the auction for Victoria’s motor registry unit, with expectations of a deal in coming days. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
RCR Tomlinson’s secured and unsecured creditors are unlikely to get most of their money back.

RCR Tomlinson class action steams ahead

An investors’ class action against collapsed engineering group RCR Tomlinson is gaining momentum but creditors have been left millions of dollars out of pocket.

  • Jenny Wiggins
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Melbourne Airport, which struggled to handle a surge in flights over Easter, has warned it will be even busier over the next three weeks.

Airports say jobs shortages ‘could persist’

Airports have told travellers to prepare for queues over the next three weeks amid warnings the winter holidays will be busier than Easter and labour shortages will not be quickly resolved.

  • Jenny Wiggins
Ventia Services is distributing fibre optic cable to homes for the national broadband network.

Ventia Services’ balance sheet questioned by CLSA

Seven months after it floated, Ventia Services’ balance sheet is worrying some analysts, with one describing the company’s negative working capital position as “highly irregular.”

  • Jenny Wiggins
Found Concrete chief executive Adam McArthur says the digital marketplace for concrete orders aims to have a presence in all major markets around Australia.

Boral to offload tech company Found Concrete

Boral is selling a concrete industry disrupter set up in 2019, in a step-up of a back-to-basics approach under chairman Ryan Stokes.

  • Simon Evans
Traffic has been rebounding on Atlas Arteria’s French toll road Autoroutes Paris-Rhin-Rhone.

Patience could pay off for Atlas Arteria investors

IFM’s sudden plunge into the toll road operator’s stock has thrown its future as a listed entity into doubt, as investors weigh up whether a full takeover bid is next.

  • Jenny Wiggins
Infrastructure assets like toll roads are in hot demand by investors because they can keep raising toll fares in line with inflation.

Transurban, APA Group ‘ripe for takeout’ in shrinking public market

The surge in inflation is spurring demand for infrastructure assets, with more listed companies forecast to fall off the Australian Securities Exchange as big funds take advantage of the sharemarket turmoil.

  • Jenny Wiggins
Good stuff: Brookfield CEO Bruce Flatt - “We own real, backbone things.”

Brookfield’s inflation-fighting superpower

Brookfield boss Bruce Flatt says the firm’s focus on real assets provides a benefit as inflation rises. Here’s how. 

  • James Thomson
AFR

PwC hoists Titan Cranes in front of white knight investors

PwC’s restructuring team is on the scene at cranes and rigging company Titan Group.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Cleanaway CEO Mark Schubert has big plans for the group but an expansion into waste-to-energy plants comes with a hefty capital  cost.

Cleanaway’s $2b gamble in a greener world

The waste management company aims to become more than Australia’s largest rubbish collector, but there are risks and big chunks of capital involved.

  • Simon Evans
Atlas Arteria’s most lucrative asset is a French toll road, the Autoroutes Paris-Rhin-Rhone.

Atlas Arteria knocks back IFM’s demands after shares raid

The tollroad group has refused to give IFM Investors confidential information after the giant investment group snapped up 15 per cent of its stock.

  • Jenny Wiggins
Aurizon wants to diversify away from coal haulage to attract more investors.

Aurizon’s $2.3b One Rail bid ‘presents risks’: ACCC

The competition watchdog has raised concerns about the rail industry acquisition, arguing it could reduce competition in the sector.

  • Jenny Wiggins
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An artist’s impression of a driverless train running on the proposed Suburban Rail Loop.

Infrastructure Australia stretched ‘too far and too thin’

New infrastructure minister Catherine King has already kick-started an overhaul of the nation’s project advisory body.

  • Jenny Wiggins
The jewel in Atlas Arteria’s toll road crown is its 31 per cent stake in French toll road Autoroutes Paris-Rhin-Rhone.

Atlas Arteria left hanging after IFM raid

IFM Investors has swooped on toll road group Atlas Arteria before a competitor snaps it up amid hot competition for long-term infrastructure assets.

  • Updated
  • Jenny Wiggins
One of the giants of Australia’s funds management sector, IFM, is bidding for Atlas Arteria.

Toll road tussle shows ASX’s disappearing sector

IFM’s likely bid for Atlas Arteria will further shrink the pool of publicly listed infrastructure. Investors won’t let this one go without a big price. 

  • James Thomson
Vik Bansal took the reins at Sanjeev Gupta’s Infrabuild a year ago, but will become the CEO of Boral by December.

A ‘new version’ of Vik Bansal to arrive as Boral CEO

Boral shares soared as chairman Ryan Stokes hired Vik Bansal, who says he prefers the ‘cut and thrust’ of running an ASX company.

  • Updated
  • Simon Evans
Airports struggled during the pandemic when flights were cancelled but have been busy in 2022.

ACCC eyes more ‘effective’ airport pricing

The competition watchdog will scrutinise commercial negotiations between airports and airlines more closely ahead of the next Productivity Commission regulation review amid concerns that airports may try to recover profits lost during the pandemic.

  • Jenny Wiggins