Project

VicRoads Commercialisation Joint Venture

PROJECT STATUS
Under Procurement
VicRoads Commercialisation Joint Venture

VicRoads forms part of the Victorian Department of Transport, and is wholly owned by the state government. 

As part of its functions, VicRoads oversees motor vehicle registrations and licences in Victoria. Motor vehicle registrations raised $1.8 billion in revenue for the Victorian Government in FY2020-21.

The Victorian Government has announced it will seek to establish Joint Venture commercialisation model for VicRoads. The transaction will cover VicRoads registration, licensing, and custom plates services, with the government retaining control of pricing, road access and safety. Under the model, the Joint Venture Partner will be required to make investments to improve the IT systems and enhance customer experience.

It is understood the Joint Venture will be a time-limited concession, with the state retaining a material ownership position.

Key Dates

Mar 2021 Project Announcement
Sep 2021 EOIs Open
Oct 2021 EOIs Close

PROJECT HISTORY

Oct 2019 Comments made in the Victorian Parliament by Treasurer Tim Pallas led to speculation that the Government is looking to either sell or lease its VicRoads registry unit.
Mar 2021 The Victorian Government announced an in-principle decision to enter into a Joint Venture commercialisation model for VicRoads.
Aug 2021 According to media reports, prospective bidders for the transaction have been approached by Morgan Stanley on behalf of the Victorian Government.
Sep 2021 The Victorian Government called for Expressions of Interest (EOIs) for the VicRoads Commercialisation Joint Venture, closing on 18 October.
Sector
Road
Procurement approach
Brownfield transaction |
Location
Victoria |
Resources
Media releases
2021/03/05
2021/09/17