One of the most exciting aspects of the project is the high sustainability standards that the partners have set. It is aiming to meet the Greenroads Silver standard - an international sustainability certification system that is specific to the design and construction of roading projects.
Points are earned for delivering sustainable outcomes such as habitat conservation, work zone health and safety, and recycled and recovery of roading materials.
While NX2 is responsible for financing, building and operating the highway for 25 years, the motorway will remain a public asset.
As part of the deal, NX2 is committed to ongoing communications with both NZTA and the wider community.
There is great opportunity for more of these sorts of partnerships, in a range of infrastructure projects, such as light rail.
With our roads - and buses - becoming more congested the need for light rail is becoming more urgent.
It is not only a way to move people from their homes to work, but also a way to revitalise the areas that sit alongside the rail corridors, boosting the economy and providing transportation for people who will live in new housing developments.
The Government is currently looking at two competing proposals for the procurement of Auckland Light Rail, one involving NZTA and the other a joint proposal by the NZ Superannuation Fund and Caisse de dépôt et placement du Québec (CDPQ) Infra, a wholly owned subsidiary of a Canadian pension fund.
The successful procurer will design and select the firm or firms that will build the light rail.
Bringing in overseas expertise and workers shouldn’t be done at the exclusion of local firms, and at all times local and central government need to remain in control of the process.
Offshore expertise is a great asset to tap into, although we must ensure that the best ideas from overseas need to be adapted to our local situation and challenges.
Stuart McKinnon is Head of Institutional Relationships for ANZ Institutional Bank.