That $6bn TenderBook..., page-220

Hello Pioupiou .....

My link was to a story before the project had been officially extended from 2020 finish to 2021. (was it published December 17? ).
NRW’s update of 19/12/18 addresses some of the points you raise .
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4gq5zheZruBxke92GA==
As you say, despite the extension, the project is largely on schedule ;

“From an NRW perspective, the construction contract progress is approximately four months behind the original schedule due predominately to Tunnel Boring Machine (TBM) stoppages, which were directed by the client, the Public Transport Authority (“PTA”. These delays are the subject of claims under the contract, which are being negotiated by the PTA and the Joint Venture.”



This update followed directly on from news of the extension.
There is a useful story here :
December 18th, 2018, 01:30PMWritten by Sarah BrookesMidland Reporter
“Forrestfield Airport Link delayed until 2021”

“THE State Government has confirmed the Forrestfield-Airport Link project has been delayed with the first trains not expected to run on the line until the second half of 2021.
Construction was slated to be completed in late 2020
Transport Minister Rita Saffioti said the project budget remains unchanged........”
https://www.communitynews.com.au/midland-reporter/news/forrestfield-airport-link-delayed-until-2021/



As you can see from price history there was significant volume and a price drop concurrent with this news .


I think this is reason the company issued the update the next day.
Retrospectively the price dive seems to me to have been an opportunistic ‘shorting attack’ as there were many press rumours before the extension was finally announced going back to 2017. (The link is elsewhere on the forum )


......if the NRW J/V is only four months behind and the project has been extended by a year this means it now (hopefully) has ample time up its sleeve to deal with any other delays .
It also means the ten year maintenance contract will be extended out to 2031.

As the contract is to the J/V - already 80% Salini bringing in a third partner to work on the rolling stock would obviously impact overall earnings but it is still an excellent decade-long term finish to the FAL project .

The projectvwas a brilliant win for NRW and it seems it is doing an excellent job.

Cheers