Who is NRT Group?

NRT Group is an infrastructure business enabling city transformation.

The NRT Group is managed by direct employees, led by its CEO, Steve Herman, and his senior management team. NRT’s experienced team is focused on supporting all partners in achieving contract objectives, stakeholder outcomes and tangible benefits for the Sydney community.



The NRT Group is owned by 5 investors, all leading infrastructure investors in Australia and internationally being:

MTR Corporation

MTR Corporation is recognised as one of the best performing and highest quality rail operators in the world. With more than 50,000 dedicated staff around the globe, MTR carries more than 12.8 million passenger journeys every weekday across Australia, Hong Kong, the United Kingdom, Sweden, and Macao.

Caisse de dépôt et placement du Québec (CDPQ)

CDPQ is a global investment group that drives performance and progress, with net assets amounting $434 billion. CDPQ invest constructive capital—in private equity, equity markets, private credit, infrastructure and real estate—to create opportunities and position enterprises to succeed.

Plenary Group

Plenary is one of the world’s leading investors, developers and managers of public infrastructure. Plenary is an independent long term investor, developer and manager of public infrastructure, specialising in public-private partnerships, local development and asset management. Plenary has more than US$51 billion worth of assets under management across North America, Australia and the Middle East.

Marubeni Corporation

Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, IT solutions, food, agri business, forest products, chemicals, metals & mineral resources, energy, power, infrastructure project, aerospace & ship, finance, leasing & real estate business, construction, industrial machinery & mobility, next generation business development and next generation corporate development.

Pacific Partnerships (owned by CIMIC Group)

Pacific Partnerships is developing infrastructure for a better world. Pacific Partnerships drive innovative collaboration across CIMIC Group’s collective expertise to create, fund, own, deliver and operate sustainable solutions that unlock benefits for our communities and for the future.


The Board of the NRT Group comprises representatives of all five shareholders, as well as the independent Chair, Michael Rose AM, appointed in May 2020.


Steve Herman - Company Executive

Steve Herman

Steve is a senior infrastructure executive with in-depth investment, finance, project management, investment and asset management, commercial and legal experience developed over the last 35 years. His career has spanned a diverse set of industries and functions in each of large, small to medium and start up enterprises. In the last 15 years Steve has specialised in the infrastructure sector covering both origination and delivery management of large-scale PPP projects.

Steve has been with NRT Group since 2014, as Finance and Commercial Director until end-July 2019, prior to taking his current role of CEO.

Michael Rose

Michael Rose brings valuable commercial, government, strategic and operational capabilities from his extensive experience as both a Chief Executive and as a member of Australian and International Boards.  Michael is the Chair of the Committee for Sydney, an urban policy think tank that advocates better policy outcomes for Sydney.  He is also Chair of Greater Sydney Parklands and sits on the boards of Silicon Quantum Computing and the Westmead Institute for Medical Research.  He is a lawyer by background and the former Chief Executive Partner of one of Australia’s leading law firms.

Michael has served on the boards of a number of Government, arts and not-for-profit organisations.  He has a senior advisory role at UNSW and is a Fellow of the Australian Institute of Company Directors

Sydney Metro is Australia’s first fully automated railway and Australia’s biggest public transport project.

NRT Group is responsible for delivering and managing two projects for the NSW Government’s Sydney Metro project, authorised under a Public Private Partnership (PPP):

  • Sydney Metro Northwest Operations Trains and Systems PPP (OTS), which operates the new driverless Metro North West Line, and
  • Sydney Metro City & Southwest Operations Trains and Systems 2 PPP (OTS2) which will extend the line from Chatswood into the Sydney CBD, to Sydenham in 2024 and beyond to Bankstown in 2025.

Sydney Metro is revolutionising the way Australia’s biggest city travels. Metro means a new generation of world-class fast, safe and reliable metro trains easily connecting customers to where they want to go. Customers don’t need timetables – they just turn up and go.

Sydney’s first phase of the metro and Australia’s first driverless railway, the Metro North West Line, opened on 26 May 2019. Services at the 13 metro stations currently operate every four minutes in the peak in each direction.

Upon completion, the 30 kilometre City & Southwest extension will run from the end of the Metro North West Line at Chatswood, under Sydney Harbour, through the CBD and on to Bankstown with a total of six new metro stations, new platforms at Central Station and 11 upgraded stations in the southwest.

Chatswood to Sydenham

When Sydney Metro is extended into the central business district (CBD) in 2024, metro rail will run from Sydney’s booming north west region, under Sydney Harbour and through the CBD. This 15.5-kilometre section of the rail line is almost entirely comprised of underground rail tunnels and new stations at Crows Nest, Victoria Cross, Barangaroo, Martin Place, Gadigal, Waterloo and new underground platforms at Central.

There will be ultimate capacity for a metro train every two minutes in each direction under the city, carrying around 40,0000 customers per hour, a level of service never-before seen and Sydney and in line with other metro systems worldwide.

Sydenham to Bankstown

As part of Sydney Metro City & Southwest, the existing T3 Bankstown Line between Sydenham and Bankstown is being upgraded to metro standards. Customers will benefit from a new fully-air conditioned metro train every four minutes in peak in each direction with lifts, level platforms and platform edge barriers for safety, accessibility and increased security.

This extension will enable a seamless customer experience on the metro, with NRT Group and its Core Contractors, MTR Australia as the Integrator and Metro Trains Sydney (MTS) as the Operator & Maintainer Contractor, responsible for delivering an expanded fleet of new metro trains and the core rail systems, as well as operations and maintenance for a period of 15 years.

For more information about Sydney Metro visit www.sydneymetro.info


Sydney Metro North West Line

Australian Engineering Excellence Awards 2020
• Northwest Rapid Transit (NRT) Consortium – Divisional Winner (Sydney).

• The Metro North West Stations Design Joint Venture – Divisional Finalist

2015 Partnerships Awards
Sydney Metro Northwest was awarded the Projects Grand Prix and Best Transit Project at the 2015 Partnerships Awards

2015 Australian National Infrastructure Awards
(Infrastructure Partnerships Australia)
The Northwest Rapid Transit Consortium (NRT) together with Transport for NSW (TfNSW) was honoured with the Government Partnership Excellence Award

2019 PFI Asia Awards
PPP Deal of the Year: Sydney Metro Northwest

Hassell Architects Sydney Metro

2020 Australian National Infrastructure Awards
(Infrastructure Partnerships Australia)
The Northwest Rapid Transit Consortium (NRT) together with Sydney Metro was honoured with the Project of the Year Award

Sydney Metro City & Southwest

2019 Infrastructure Investor Annual Awards
Global PPP Deal of the Year: Sydney Metro City & Southwest PPP

2019 Proximo Asia Awards
Asia PPP Deal of the Year: Sydney Metro City & Southwest PPP

Asset Triple A Infrastructure Awards 2020
Australia Transport Deal of the Year: Sydney Metro City & Southwest PPP

2020 Australian National Infrastructure Awards
(Infrastructure Partnerships Australia)
The Northwest Rapid Transit Consortium (NRT) together with Sydney Metro was honored with the Government Partnership Excellence Award