ConnectEast
ConnectEast is an Australian company responsible for the finance, design, construction and operation of the EastLink toll road in Melbourne.
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Type | Private |
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Industry | Transportation |
Founded | 2002 |
Headquarters | Ringwood, Victoria, Australia |
Key people | Charles Griplas, Managing Director |
Products | EastLink tollway Part of Ringwood Bypass |
Revenue | $350 million (2019) |
Number of employees | Approx 200 (2014) |
Website | www.connecteast.com.au |
Previously listed in the Australian Securities Exchange (ASX) as the ConnectEast Group, it won a $2.5 billion tender in 2004 to finance, design, construct, operate and maintain the 39 km EastLink toll road between Michcham and Frankston,[1] which links the Eastern Freeway in the eastern suburbs of Melbourne to the Frankston Freeway in Melbourne's south-east. This tollway was constructed by a joint venture between Thiess and John Holland and completed five months ahead of schedule with the tollway opening in June 2008.[2]
In late 2011, ConnectEast was sold to Horizon Roads (a consortium of eight investors: Universities Superannuation Scheme from the United Kingdom, APG of the Netherlands, National Pension Service of[South Korea, China's Leader Investment Corp, Arbejdsmarkedets Tillægspension of Denmark, Teachers Insurance and Annuity of the US and the Korean Teachers Credit Union[3]) for $2.2 billion and delisted from the ASX.[4][5][6]
ConnectEast's concession expires in 2043.[7]
References
- "ConnectEast wins $2.5b freeway contract". ABC News. 14 October 2004. Retrieved 22 September 2016.
- EastLink successfully opens to traffic ConnectEast 30 June 2004
- Grant-Taylor, Tony (23 July 2011). "Toll road bid watched closely". The Courier-Mail. News Corp Australia. Retrieved 22 September 2016.
- CP2 wins vote to acquire ConnectEast Australian Financial Review 27 September 2011
- Wilson, Neil (27 September 2011). "ConnectEast takeover approved after close vote". Herald Sun. News Corp Australia. Retrieved 30 August 2014.
- ConnectEast Group Removal from Official List Australian Securities Exchange 2 November 2011
- Transurban Says It Wants to Buy Stake in Melbourne’s EastLink Bloomberg News 7 February 2023