2023-24 was a significant year for the North East Link State Tolling Corporation (STC).
The year saw significant progress in the construction of the North East Link, including the arrival of the twin 4,000 tonne tunnel boring machines that will be used to dig the twin 6.5 kilometre tunnels at the project site, the realignment of Bulleen and Manningham Roads in preparation for the commencement of tunnelling, and the first major procurement milestones for the Toll Collection Capability Project to prepare for the North East Link operations.
As the delivery of the North East Link itself gathered pace, 2023-24 was also a year of rapid development and evolution for STC into an organisation capable of driving value from the largest ever investment in a Victorian road project. We are equally proud of STC’s continued strides towards becoming a centre of excellence within the Victorian Government in the investment, management and operation of major road infrastructure assets.
The decision to establish STC as a State-owned commercial toll road operator was a first in Australia. It requires the development of technical and commercial capabilities that have not traditionally sat within the public sector. It has been wonderful to see the organisation take shape over the year, drawing together a group of exceptional professionals from across both the public and private sectors to build capabilities and capacity and deliver on the Victorian Government’s objectives.
We are confident that STC’s capability will only continue to grow. We are particularly excited to have established all organisational systems, processes and infrastructure to be compliant with our legislative, regulatory and industry best practice requirements, including securing a permanent office space for the Corporation which can provide the physical environment and advanced technology required for STC to develop and be ready to manage and operate the North East Link once it is complete.
Although there is still much more work to do before the North East Link opens to the public, the past year saw some remarkable achievements. We are grateful to the staff and management of STC, as well as our partners at Major Road Projects Victoria, the Spark North East Link Consortium, the Department of Transport and Planning and the Department of Treasury and Finance for their continued dedication to the North East Link Program and support of STC.
Responsible Body Declaration
In accordance with the Financial Management Act 1994, we are pleased to present the North East Link State Tolling Corporation’s Annual Report for the year ended 30 June 2024.
An Nguyen
Chief Executive Officer
Brad Vann
Chair, Board of Directors
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