The EastLink Project was delivered as a Public Private Partnership. Using this model, a private company funds the construction of the roadway based on specific requirements determined by the State.
In return for its spending, the Government allows the private company to operate and toll the road for a set period.
SEITA managed the bid process for EastLink and the selection of the private sector partner - ConnectEast.
The bid assessment phase was completed in record time for a project of this type. Shortly after the successful award of the contract, ConnectEast was listed on the Australian Stock Exchange. Total equity and debt raised to deliver EastLink was $3.8 billion.
The EastLink Concession Deed outlines the requirements for ConnectEast to fund, design, construct, operate, toll and maintain the road for a period of 39 years.
In an Australian-first for a Public Private Partnership project of this type, the concessionaire (ConnectEast) has committed to a series of key performance indicators to ensure a high level of service delivery to users.
For more information on Public Private Partnerships, see the Partnerships Victoria website at www.partnerships.vic.gov.au