- Largest Public Private Partnership ever undertaken in Australia.
Ernst & Young, Australia (“EY Australia”) is pleased to announce the signing of the North East Link Program tunneling package is now completed, marking the largest Public Private Partnership ever undertaken in Australia.
The multi-year procurement has been a massive team effort between the key Victorian Government Agencies including the Major Transport Infrastructure Authority, the Department of Transport and the Department of Treasury and Finance with support from a core advisory team including EY Australia (Financial & Commercial).
“The transaction is the largest PPP ever undertaken in Australia and one of the largest in the world,” said John Matthews, Partner, EY Australia.
“EY Australia has helped the Victorian Government nurture this program from Business Case through to procurement and it is very satisfying to see the project now move into full scale delivery.
“The project has attracted new participants into the Australian market and developed market leading approaches to the management of risk in delivery that could set the blueprint for future mega projects here and internationally.
“Despite long periods of remote working during the pandemic, the combined North East Link Program staff and advisor team found new ways to engage with the market and with each other to successfully complete the transaction.
“The team did their homework and was able to present a clear value proposition to the global market, which meant that the limitations of online interaction did not preclude reaching agreement in a competitive bidding environment,” said Mr Matthews.
The deal adds to EY Australia’s enviable track record in planning, procuring and delivering infrastructure transactions with our clients.
“We see a growing number of clients looking for deep expertise in different contracting methods on mega deals involving multiple stakeholders who understand everything from business case development to delivery model management and risks,” said Mr Matthews.
“This is why EY Australia has invested heavily in getting deep expertise to assist our clients with navigating complex and evolving market conditions,” he said.
The North East Link Program will be delivered over the next few years and is expected to result in significant outcomes for the people of Victoria.