Private investors elbowed out of Oz mega projects

Private investors have been excluded from building Sydney’s second international airport, raising questions about who should build large-scale infrastructure projects.

Infrastructure investors in Australia are disappointed by the federal government’s decision to bypass a competitive tender process in favour of building a A$6 billion second international airport in Sydney on the public purse.

The project has been on the country’s agenda for four decades and has remained in the too-hard basket due to rail access issues and concerns about whether it could attract enough airline traffic to make it viable.

Such large-scale national transport projects tend to take years to come to fruition in Australia. Still, many investors had expected that once the conditions were right, the second airport would be open to private tender. Instead, Prime...

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