M2 Motorway, Sydney



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M2 Motorway, Sydney

Sydney’s “M2” was the most complex and challenging tollroad project of its time in Australia. Egis Projects Asia Pacific was a key member of the consortium setting up the operating company, Tollaust Pty Ltd in partnership with a leading Australian road constructor. The concession company, Hills Motorway Ltd, became a very successful ASX-listed entity now owned by Transurban Limited.

The M2 was also one of the first Australian tollroads to include a tunnel when it opened in 1997, and has since then been one of the safest tollroads in Australia.

For more than a decade, Egis Projects Asia Pacific has provided the highest levels of transport infrastructure project expertise and innovation in Australia.

Egis Projects Asia Pacific's roles included:


key consortium member in charge of operation and equipment


establishment of Tollaust Pty Ltd with our local partner


operation and maintenance of the Motorway through a fixed term and price contract


Tollaust's activities including tolling using "Express" electronic tag



M2 Motorway Facts:
The M2 Motorway is part of the Sydney orbital road network. It consists of 22km of dual carriageway linking Epping Road (at North Ryde) to Old Windsor Road (at Baulkham Hills) with a toll plaza at Macquarie Park.

The M2 features eight major junctions, a 460 metre tunnel and dedicated bus lane together with a flyover for bus transport between Old Windsor Road and Beecroft Road.

The total project cost was approximately A$460 million.



Concession Client


– Roads and Traffic Authority (NSW)

Concession Company


- The Hills Motorway Ltd (publicly listed and now owned by Transurban)



- Egis Road Operation Australia Pty Ltd



– Sponsor equity: Abigroup, Obayashi
– Institutional equity
– Bank debt: Westpac, Credit Lyonnais, LTCB
– Index linked bonds



– Financial close: 26 August 1994
– Opening: 26 May 1997
– Concession period: 40 years