NZ Infra welcomes next steps on City Centre to M?ngere Light Rail corridor

MONTREAL, Aug. 22, 2019 /CNW Telbec/ - NZ Infra, a partnership between the NZ Super Fund and CDPQ Infra, today welcomed the Government's announcement of the next steps regarding the City Centre to M?ngere Light Rail corridor in Auckland.

"We are pleased to be taking part in the new process being led by the Ministry of Transport to advance light rail in Auckland," said NZ Super Fund CEO Matt Whineray. "We are currently preparing a range of information that we will provide to the Ministry."

CDPQ Infra Managing Director Jean-Marc Arbaud said: "NZ Infra is committed to presenting the Government with the highest quality light rail proposal possible."

The Government's assessment process will take up to six months.

Due to the commercially sensitive nature of the process, NZ Infra cannot comment any further at this time.

The NZ Super Fund is a $43 billion global investment fund established by the New Zealand Government to help pre-fund universal superannuation. It invests on a commercial basis. The Fund has returned 10% p.a. (after costs, before NZ tax) since inception in 2003. It has approximately $6 billion invested in New Zealand.

CDPQ Infra is a wholly owned subsidiary of Caisse de dépôt et placement du Québec, a long-term institutional investor with CAD326.7 billion in net assets as of June 2019. CDPQ Infra is responsible for the development, funding and operation of large scale infrastructure projects, including the Réseau express métropolitain (REM). The REM is a new, 67-km integrated public transit network that will link downtown Montréal, the South Shore, the West Island (Sainte-Anne-de-Bellevue), the North Shore (Deux-Montagnes) and the airport in a unified, fully automated LRT system.

SOURCE CDPQ Infra Inc.