DIF infrastructure fund to build Australian workers facility
Infrastructure fund manager DIF, together with its consortium partners, has agreed a 15-year agreement to build, finance and operate a new 604-bed workers accommodation facility in Australia.
DIF said it has reached financial close on the Bay Village workers accommodation facility which will support the North West Shelf and Pluto LNG projects in Karratha.
DIF Infrastructure V will be the owner of the project, whilst design and construction works will be undertaken by Multiplex, and operations and maintenance services will be undertaken by Compass Group.
The counterparties to the agreement are the North West Shelf and Pluto LNG projects, which are operated by Woodside, one of Australia’s largest natural gas producers.
Construction on the Bay Village facility will commence imminently, with operations expected to commence in mid-2020.
BFIN and Corrs Chambers Westgarth advised the consortium. Financing was provided by Commonwealth Bank of Australia.
Marko Kremer, partner and DIF’s head of Australasia said: “DIF is excited to be working with the North West Shelf and Pluto LNG projects to support their ongoing operations and growth plans.
“We are pleased to be involved with these Woodside-led projects, with LNG being an important solution to achieving a lower emissions future.”