Services Delivered:
- Transaction Management
Key Outcomes
This complex Project is still underway. In addition to the above responsibilities, the Transaction team is also responsible for coordinating inputs from the project team, including from the technical advisors (i.e. scope requirements and technical specifications), and legal advisors (i.e. Deed).
Our Advisors have been able to the manage the multifaceted transaction process by leveraging the extensive lessons learned and market knowledge acquired through the team’s progressive approach to transactions of major NSW road projects
over the past 5 years. One example of this the team’s creation of a customised and responsive collaborative Interactive Tendering Process that is adaptable to the ever-changing COVID-19 restrictions and allowed the process to continue.
The Project
The Warringah Freeway Upgrade Project is part of the Western Harbour Tunnel and Beaches Link (WHTBL) Program and will upgrade approximately 4 km of the Warringah Freeway, Australia’s busiest road. The project will improve the way the existing Freeway operates, reduce merging, provide a dedicated bus lane and provide connections to the future Northern Beaches Tunnel and the Western Harbour Tunnel and into the WestConnex roadways system.
The Warringah Freeway Upgrade Project is a critical component of the WHTBL Program.
Key features of the Warringah Freeway Upgrade Project include:
- widening existing bridges
- bridge demolitions
- bridge construction
- cut and cover tunnel and dive structure construction
- significant pavement upgrade works
- ITS upgrade works
- complex construction traffic staging, and
- construction phase maintenance.
KEY ISSUES
TfNSW required a transaction services provider to manage the procurement of the $1.8 billion Incentivised Target Cost contract for the design and construction of the Warringah Freeway Upgrade Project. Our Director Richard Martin took on the role of Transaction Lead and is supported by our Advisors Matt Frewer (Transaction Manager) and Siva Hesavan, Kevin Tran and Sep Zarrin (Transaction Advisors).
The Project will enable the connection of the new motorways planned under the WHTBL Program into the existing motorway network. This upgrade will ensure the WHTBL Program delivers its connectivity and safety benefits for public transport, freight and private vehicle customers. It will also improve the journey experience for existing users. Once complete, the upgraded corridor will optimise demand across the Sydney Harbour Tunnel, Sydney Harbour Bridge and the future Western Harbour Tunnel.
Our Services
The Transaction team is responsible for:
- preparing transaction strategy and procurement program
- preparing EOI and RFT documents
- reviewing contract documents, including the WFU Deed, SWTC and Site Access Schedule
- managing the EOI process and shortlisting of Tenderers
- designing a bespoke and versatile collaborative Interactive Tendering Process that could be progressively amended to suit COVID-19 restrictions
- managing correspondence between Tenderers and TfNSW (including reviewing proposed responses from the project team to Tenderer queries from a commercial and technical perspective)
- managing the evaluation of Tenders, for both non-price and price evaluation workstreams (including managing the clarification of Tenders for TfNSW)
- presenting and reporting on the outcomes of the evaluation
- facilitating issue resolution and appropriately capturing agreed positions in the contract and technical documentation, and
- providing a high level of commercial and technical support during negotiations and contract finalisation with the Recommended Tenderer.