international public partnerships ltd said thursday that it will make an investment totaling around 135 million australian dollars 101 million in the third stage of the gold coast light rail project in australia the uklisted investment company said that the investment follows on from its existing 30 interest in the project which is a joint venture between the queensland government and goldlinq pty ltd the return on the additional investment is expected to be consistent with returns already being generated from the 30 stake the company holds the project extends the existing light rail network a further 67 kilometers south and will include eight new stations and five additional light rail trams among other improvements reaching financial close on the third stage of its development reflects our longterm commitment to the project and our confidence in its ability to continue transforming the way people move around the city in line with sustainable goals chairman michael gerrard said shares at 1226 gmt were down 04 pence or 02 at 1720 pence