Infralogic Investors Forum Australia 2023
The premier Infrastructure forum in Australia
Four Seasons Hotel, Sydney and Online
15
Mar
Solving the construction conundrum: Collaborating to find a winning formula
Traditionally, a new infrastructure project would be a design and construct contract, where the government finances the whole project, but builders sign fixed price contracts to deliver it. However, the contractual inflexibility of D&C and PPP deals have often led to litigation when costs skyrocket due to unforeseen risks and usually a refinancing of the project mid-construction. This is now even more likely given that the rapid inflation and interest rate rises, labour shortage, and increasing material costs have caused numerous small and large builders to struggle with significant losses. However, reforms are starting to be brought in to address the need to collaborate in real-time in terms of project risk management, such as allowing the risk responsibilities to shift among the various parties as circumstances change during a project. In light of a number of high-profile cases, it has been recognised that an urgent transformation is needed of how projects are procured, delivered, and governed in Australia. Furthermore, a closer look must be taken at the role that the Federal Government can play.
- How are contractors dealing with inflation and transport disruptions?
- Are the COVID-19 and war-related pressures that created the supply-chain crunch easing?
- How do you drive flexibility and genuine collaboration?
- How should risk be allocated and shared?
- What reforms are in place, and how is the government planning to change the model further?
Speakers
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Chau Phan-Vu is a director in Project Finance at MUFG Bank, Ltd., based in Sydney. She has been with the bank since 2017 and is engaged in the origination and execution of project finance transactions across Oceania, with a key focus on renewable energy and power, infrastructure and natural resources.
Prior to her current role, Chau spent over 9 years in debt and advisory roles across Sydney, London and Paris where she also covered structured finance across these sectors in Australia and EMEA.
Dan is a Director at the Department of Treasury and Finance, joining in 2016. He provides commercial and risk management advice on major commercial transactions to Victorian government departments, agencies and government business enterprises. In Infrastructure Delivery group, that includes Partnerships Victoria, the Victorian Government flagship Public Private Partnership (PPP) specialist group, he works on a range of social and transport infrastructure projects.
Dan has carriage of the Rail, Health and energy portfolios within the group. Overseeing the development and procurement of the Melbourne Airport Rail Project, Melton Hospital PPP and the new Offshore Wind initiative and the construction of Melbourne Metro, Footscray Hospital, Frankston Hospital and the High Capacity Metro Trains projects.
Prior to joining the Department of Treasury and Finance, Dan worked in a range of roles in Australia and Japan. He started her career with URS as an environmental geologist before heading to Japan in to work with Mitsubishi Heavy Industries on gas to liquids and Carbon Capture and Storage projects, before returning home to Melbourne with Mitsubishi Corporation, focusing on transport PPPs and power projects.
Dan holds a Bachelor of Science (Geology) from the University of Melbourne.
Bede Noonan is the Chief Executive Officer and a significant shareholder of ACCIONA’s infrastructure business in Australia and New Zealand, with projects under construction of approximately $5.5 billion.
Prior to ACCIONA, Bede ran Geotech Group, an Australian diversified civil engineering business, where he oversaw growth in annual revenue from $5 million to more than $300 million before ACCIONA acquired a majority shareholding in March 2017. In September 2020, Bede finalised the transaction to purchase the Engineering business of Lendlease, such that the proud project history of Abigroup and Baulderstone Hornibrook are now part of the ACCIONA story. This rich history includes iconic Australian landmarks such as Anzac Bridge, Sydney Opera House, Story Bridge, Legacy Way Tunnel, Bolte Bridge and Docklands Stadium.
Bede is an experienced business leader with a passion for innovation and a focus on corporate strategy, business development and financial and systems management.
His entrepreneurial approach to business through a combination of disciplined organic growth and carefully timed strategic acquisitions has positioned ACCIONA well to cement itself as the leading sustainable, reliable and trusted infrastructure partner in Australia and New Zealand.
Bede is a board member of the Australian Constructors Association and was a board member of Master Builders Association of Victoria and the Piling and Foundation Specialists Federation.
Julie-Anne has more than 30 years’ financial markets and investment management experience across real assets and listed equities in Australia and overseas.
Julie-Anne joined as the inaugural CEO of Plenary Funds Management in 2021 responsible for creating and building the boutique infrastructure investment management business from a standing start through capitalising on the strengths of the Plenary Group. She now holds the role of Non Executive Director & Senior Advisor.
Julie-Anne worked at AMP for more than 25 years in Sydney and London in equities management, corporate strategy and M&A and for 14 years in infrastructure, most recently as AMP Capital’s Global Head of Social Care. While there, she founded and led the transformation of the Community Infrastructure Fund into the leading brownfield social infrastructure fund in Australia and New Zealand of its day, comprising 18 assets with an enterprise value of more than $8 billion.
Julie-Anne previously worked in investment management at companies including Ord Minnett / J.P. Morgan, ANZ McCaughan and NZI Investments.
She is the founder of the Australian Chapter of Women in Infrastructure (WIN) and remains a WIN Advisory Committee member at Infrastructure Partnerships Australia.
In 2015 Julie-Anne was named one of the 100 Women of Influence by the Australian Financial Review and Westpac for her contribution to promoting women in infrastructure.
Julie-Anne holds a Bachelor of Commerce and Masters of Commerce degree as well as being a Graduate of the Australian Institute of Company Directors. She also recently completed an INSEAD course on Strategic Decision Making for Leaders.
When she is not managing infrastructure investments, Julie-Anne enjoys cooking, playing board games with her family and beating her best time in expert sudoku. She has passed AMEB 7th Grade in Piano and has a wide interest in music. She is also passionate about art and architecture and is a Governor of the Art Gallery of NSW Foundation.
Robert Sobyra is Head of Policy with the Australian Constructors Association (ACA). Responsible for driving ACA's policy agenda, Robert is a leading voice for a more sustainable and progressive construction industry. He writes and talks regularly on Australian construction trends and is a postgraduate researcher at the University of Queensland with a special interest in regional economic growth.