Reliance Rail

Reliance Rail involves the financing, designing, manufacturing and maintenance of 78 state-of-the-art double deck eight-car Waratah trains featuring:

• Improved accessibility with additional handrails, priority seats and more wheelchair spaces
• Step lights with visual and audible warnings for door opening and closing, raising passenger safety levels
• Advanced passenger and communication screens, energy-saving LEDs, and both external and internal CCTV

To support the new fleet, the project also developed a purpose-built maintenance facility and four crew training simulators. The maintenance facility operates 24/7 and houses nearly half of Sydney's passenger fleet, including trains other than the Waratah. Approximately 150 staff, including mobile technicians, provide round-the-clock support to the fleet in service.

The facility consists of a 14,000m² maintenance shed with 7 maintenance roads, an automatic train wash plant, underfloor wheel lathe and wheel condition monitoring equipment.

The decision to invest in Reliance Rail was driven by a combination of the project's potential for long-term returns, a commitment to sustainable transport, and the strategic significance of the project to Sydney's transit ecosystem.

• Strategic Relevance: At A$3.6 billion, this was the largest PPP project of its kind during its initiation. It represented a pivotal step forward in reshaping Sydney’s transportation infrastructure
• Alignment to INPP: Reliance Rail represented a direct investment opportunity in one of INPP’s core sectors with an exceptional risk-adjusted return profile
• Strong Partnership Framework: The collaboration with notable industry leaders, such as Downer EDI, Hitachi, and Changchun Railway Company, indicated a blend of expertise and quality assurance
• Risk Mitigation: The project's structure ensured that the majority of risks (including design, construction, and long-term maintenance) were allocated to the contractors during both the delivery and operating phases
• Potential for Asset Growth: The project not only offered a 30-year concession term from completion but also had options to extend for up to an additional 10 years (maintenance only), ensuring a sustained revenue stream