ConnectEast

Summary

ConnectEast is an Australian limited corporation responsible for the finance, design, construction and operation of Melbourne's EastLink tollway project.

ConnectEast
TypePrivate
IndustryTransportation
FoundedMount Waverley, VIC, Australia 2002
HeadquartersRingwood, VIC, Australia
Key people
Charles Griplas, Managing Director
ProductsEastLink tollway w/ part of Ringwood Bypass
RevenueA$ 218.35 million (2011)[1]
Number of employees
approx. 200 (2014)[2]
Websitewww.connecteast.com.au

Previously listed in the Australian Stock Exchange as The ConnectEast Group (stock symbol: ASX: CEU), it won the $2.5 billion tender in 2004 to finance, design, construct, operate and maintain the 39 km Mitcham-Frankston motorway,[3] which links the Eastern Freeway in the eastern suburbs of Melbourne to the Frankston Freeway in Melbourne's south-east. This tollway, called EastLink was constructed through a joint-venture between Thiess and John Holland and completed 5 months ahead of schedule with the tollway opening in June 2008.

In late 2011, the company was sold to Horizon Roads (a consortium of 8 investors: Universities Superannuation Scheme from the UK, APG of the Netherlands, National Pension Service of Korea, China's Leader Investment Corp, Arbejdsmarkedets Tillægspension of Denmark, Teachers Insurance and Annuity of the US and the Korean Teachers Credit Union[4]) for $2.2 billion.[5]

ReferencesEdit

  1. ^ "2011 Annual Report". ConnectEast - owner and operator of EastLink. Retrieved 30 August 2014.
  2. ^ "Our Team". ConnectEast - owner and operator of EastLink. Retrieved 30 August 2014.
  3. ^ "ConnectEast wins $2.5b freeway contract". ABC Online. 14 October 2004. Retrieved 22 September 2016.
  4. ^ Grant-Taylor, Tony (23 July 2011). "Toll road bid watched closely". The Courier-Mail. News Corp Australia. Retrieved 22 September 2016.
  5. ^ Wilson, Neil (27 September 2011). "ConnectEast takeover approved after close vote". Herald Sun. Herald Sun. Retrieved 30 August 2014.