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.
The Victorian Government has selected a Joint Venture partner for the commercialisation of VicRoads registration, licensing, and custom plates services. The Joint Venture will operate the services and invest in digital systems over a 40-year concession. The Victorian Government will retain responsibility for key regulatory and policy functions, ownership, and regulation of data, and will continue to control pricing, privacy, road access, and safety. The state will retain a material ownership position in Vic Roads.
Key Dates
| Mar 2021 | Project Announcement |
| Sep 2021 | EOIs Open |
| Oct 2021 | EOIs Close |
| Jun 2022 | Contract Award |
Procurement
| Procuring Agency: | VicRoads |
| Successful Tenderer: | A consortium comprising Aware Super, Australian Retirement Trust and Macquarie Asset Management. |
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. |
| Jun 2022 | The Victorian Government a selected a consortium comprising Aware Super, Australian Retirement Trust and Macquarie Asset Management to deliver the project. Under the agreement, the consortium will provide $7.9 billion in upfront proceeds to the Victorian Government and will operate VicRoads’ registration, licensing, and custom plates services and invest in digital systems over a 40-year concession. |
Estimated Total Cost
(2022)
Sector
Road
Procurement approach
Brownfield transaction |
Location
Victoria |
Resources
