International Public Partnerships Limited announced that it has reached financial close on Stage 3 of the Gold Coast Light Rail project (the 'Project'). The follow-on investment in the Project has arisen through the Company's existing 30% interest in the Project. The Project extends the existing Gold Coast Light Rail network (known as G:link) a further 6.7 kilometres south from Broadbeach to Burleigh Heads.

It will include eight new stations, five additional light rail trams, new bus and light rail connections at Burleigh and Miami, and an upgrade of existing depot and stabling facilities. At completion of Stage 3 in 2025, Queensland's only light rail system will have a route 27 kilometres long from Helensvale to Burleigh Heads, stopping at 27 stations and serviced by 23 trams. Stage 1 and 2 of the Gold Coast G:link light rail system has become a resounding success with more than 60 million passenger trips to date. One of the many benefits of the rail system has been an overall increase in public transport use on the Gold Coast with a 43% uplift for combined tram and bus use since light rail opened in 2014.

The Company will look to support the delivery of the project in line with its Sustainability Policy Aims, with a particular focus on reducing embodied carbon as far as practical.