ConnectEast

ConnectEast is an Australian company responsible for the finance, design, construction and operation of the EastLink toll road in Melbourne.

ConnectEast
TypePrivate
IndustryTransportation
Founded2002
HeadquartersRingwood, Victoria, Australia
Key people
Charles Griplas, Managing Director
ProductsEastLink tollway
Part of Ringwood Bypass
Revenue$350 million (2019)
Number of employees
Approx 200 (2014)
Websitewww.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
  1. "ConnectEast wins $2.5b freeway contract". ABC News. 14 October 2004. Retrieved 22 September 2016.
  2. EastLink successfully opens to traffic ConnectEast 30 June 2004
  3. Grant-Taylor, Tony (23 July 2011). "Toll road bid watched closely". The Courier-Mail. News Corp Australia. Retrieved 22 September 2016.
  4. CP2 wins vote to acquire ConnectEast Australian Financial Review 27 September 2011
  5. Wilson, Neil (27 September 2011). "ConnectEast takeover approved after close vote". Herald Sun. News Corp Australia. Retrieved 30 August 2014.
  6. ConnectEast Group Removal from Official List Australian Securities Exchange 2 November 2011
  7. Transurban Says It Wants to Buy Stake in Melbourne’s EastLink Bloomberg News 7 February 2023


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