2024-25 was the third full year of operation for the North East Link State Tolling Corporation (STC).
The year saw the organisation continue to grow and mature into a sophisticated asset operator, in preparation for the opening of the North East Link (NEL) in 2028. We consolidated our position as an important part of Victoria’s transport ecosystem, and as a centre of excellence within the Victorian public sector in commercial asset management, toll road operations and infrastructure development.
During the year, construction of the North East Link tunnels progressed exceptionally well. By September 2024 the two tunnel boring machines, Zelda and Gillian, were launched. In March 2025 they achieved breakthrough at Manningham and Bulleen Roads, before commencing the main stretch of tunnelling. The tunnelling and concrete lining of the ventilation tunnel at Yallambie was also completed. We thank all our delivery partners for achieving these important project milestones.
A key achievement for STC this year was awarding the contract for the NEL’s Road Side System. This new system will enable STC to collect tolls in the NEL tunnels when they open - providing the Victorian public sector with a toll collection capability that had previously only existed in the private sector.
We are committed to ensuring STC is a great place to work, generates commercial returns that can be re-invested into transport assets and be a model toll road operator. We look forward with confidence to another successful year and expanding our presence in Victoria’s transport system.
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 2025.
Brad Vann
Chair, Board of Directors
An Nguyen
Chief Executive Officer
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