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The JV consists of CIL with a 74% share and SIML holding the remaining 26%.
The groups will compete to develop plans for Area Package 1, covering the route from Berowra to Ourimbah on the Newcastle to Sydney line.
The site will be refurbished into sustainable office, retail, and hospitality space while retaining its heritage features.
Main works construction is due to start later this year, with lift cores and the first ground slab poured by the end of 2026.
