Following a highly competitive tender process AquaSure was contracted by the Victorian State Government to finance, design, build, operate and maintain the Victorian Desalination Plant. At the end of the 30-year contract period the VDP will be handed back to the government, debt free and in full working order.
The VDP is a state asset for the long-term, operated in a stable and environmentally responsible manner. AquaSure and its contractors are committed to ensuring the optimal performance of the project throughout the 27 year operating concession period, and to providing value for money for the State.
AquaSure does not own the water produced by the plant. Under the terms of its contract it desalinates seawater at the request of the State Government for delivery to Melbourne Water and other authorities in quantities specified each year by the Government.
AquaSure’s international board of directors and executive management team have extensive management experience in the fields of infrastructure and investment.
Both our design and construction contractors (Thiess Dégremont Joint Venture) and operations and maintenance contractor (WATERSURE) are leaders in their respective fields of construction and engineering, and water technology.
As a Public Private Partnership the VDP has been fully funded by the private sector. More than 30 financial institutions from Australia, Europe and Asia provided debt funding of $3.7 billion upon financial close in 2009. The balance of funding of $0.8 billion was provided by AquaSure's ten shareholders. AquaSure’s debt facilities are refinanced annually to ensure the best possible return to the state of Victoria. AquaSure's debt is being re-paid through contract payments made by the State Government and funded by Melbourne Water.
The project contributed significantly to Victoria’s economy during construction. More than $1 billion of supply contracts were awarded during the construction period with three quarters going to Australian companies and two-thirds to Victorian companies. At its peak more than 4300 people were directly employed across the project.
In its operational phase the project is providing full time employment for more than 80 personnel, the vast majority of whom live in the Bass Coast region.