Deals
Hastings Wins $2.3 Billion Lease for Sydney Desalination Plant
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Hastings Funds Management Pty and Ontario Teachers’ Pension Plan won the right to lease the Sydney Desalination Plant from Australia’s New South Wales state for A$2.3 billion ($2.3 billion).
The 50-year lease includes the plant, the pipeline, the site and a 50-year supply agreement with Sydney Water, the state government said today in a statement. The funds will be used to repay debt while A$300 million will be invested in the state’s infrastructure fund.