MinterEllison advised the Victorian Government on the VicRoads modernisation project.
Following competitive and robust market engagement a consortium of Aware Super, Australian Retirement Trust and Macquarie Asset Management was selected to deliver the VicRoads Modernisation process, bringing benefits to individuals and businesses – including upgraded customer service systems, better Custom Plates services and user-friendly registration and licensing.
The joint venture partners have a strong track record of successfully partnering with governments to deliver services. The partners are Australian industry superannuation funds and long-term investors with combined experience delivering the New South Wales, South Australian, Victorian and Western Australian land titles services, as well as data centres and telecommunications infrastructure.
The joint venture is a 40-year partnership in which the Government retains ownership of VicRoads, while generating $7.9 billion in upfront proceeds for the State, which will be invested in the new Victorian Future Fund to help manage our pandemic debt.
The Government has also delivered on its commitment to protect the jobs of existing VicRoads employees, while creating more than 120 new jobs to oversee the partnership, support the IT modernisation process and bolster the Government’s road safety role.
Continued ownership of VicRoads by the Government will ensure control over regulation and policy, data and privacy provisions and pricing of essential fees, with information to remain secure and stored in Australia.
The Government will also immediately deliver benefits for Victorian drivers through a package that will slash licensing and online testing costs and reward safe driver behaviour.
VicRoads plans, develops and manages the arterial road network, delivers road safety initiatives & customer focused registration.
Aware Super is an Australian Industry Superannuation Fund.
Australian Retirement Trust is one of the largest super funds, taking care of over $200 billion in retirement savings for over 2 million members.
Macquarie (ASX:MQG) is an Australian global financial services group.
MinterEllison’s team was led by partners Andrew Rentoul (Picture) and Kate Koidl.
Law Firms: MinterEllison;
Clients: State Government of Victoria;