CORPORATE PROFILE
On 30 July 2009, the Victorian Government awarded the Victorian Desalination Project contract to the AquaSure consortium, and in September 2009, following financial close, AquaSure, the company, commenced operation.
For 30 years from the signing of the contract, AquaSure will finance, design, construct, operate and maintain Victoria’s desalination plant, its marine structures and the water transfer pipeline.
AquaSure will also construct an underground powerline to supply power to the plant and pipeline and install optical fibre cable to provide the capacity to improve communications services to local communities.
AquaSure brings together leaders in the fields of infrastructure design, construction and finance.
Thiess Degrémont is AquaSure’s design and construction contractor. The project development and construction joint venture structure is 65 per cent Thiess and 35 per cent Degrémont.
Once completed, the plant will be operated and maintained by Degrémont Thiess Services. The operations and maintenance joint venture structure is 60 per cent Degrémont and 40 per cent Thiess Services.
A competitive advantage
During the bid phase, the AquaSure consortium comprised the strong and experienced team of:
- Suez Environnement/Degrémont — a world leader in reverse osmosis desalination technology
- Thiess and Thiess Services — a leading engineering, tunnelling and civil contractor
- Macquarie Capital — a global investment, advisory and securities firm.
- Competitive advantages ensured AquaSure was selected as the preferred bidder for the Victorian Desalination Project. These included:
- a strong design/construction and operation/maintenance solution
- attractive risk allocation
- a well-priced and conservatively structured debt structure with strong support from the banking market and a diversified equity group (including sponsor contribution)
See also Public Private Partnership