Toll Collection Capability
The Toll Collection Capability (TCC) project is a key component of a successfully delivered North East Link (NEL).
The TCC project provides fit-for-purpose infrastructure and technologies that efficiently collect tolls by optimising the road user experience and protecting scalability of future technology changes.
The TCC Project will give the Victorian public sector the capability to collect tolls on free- flowing toll roads – which currently only exists in the private sector.
There are two aspects to the project:
- Roadside systems which enable the detection and classification of vehicles travelling through the tunnel. It includes gantries and screens, cameras, radio frequency transponders, computer and communications systems and road markings.
- Back office systems that will link vehicle information with the vehicle owner, allow the calculation of trips and manage the collection of revenue.
In 2024-25, a contract was awarded for the roadside system aspect of the TCC project.
STC continues to work with our suppliers and delivery partners to install supporting infrastructure during the construction phase of the NEL. As part of the PPP, Project Co continued development of the enabling infrastructure for roadside systems. This includes tolling gantries and signage, pits and conduits, and electrical and communications connections.
Procurement has commenced to select a suitable supplier of the Back Office Systems component of the TCC Project. Three bidders were shortlisted following an Expression of Interest process. The Request for Proposal was issued to these suppliers in June 2025.
North East Link’s progress
STC’s delivery partners continue to progress construction of the NEL. The following milestones were achieved in the 2024-25 period:
- Launched two tunnel boring machines for major tunnelling construction from Watsonia to Bulleen.
- Breakthrough achieved for the first stage of the tunnel between Manningham and Bulleen.
- Completed tunnelling and concrete lining for the ventilation tunnel in Yallambie.
- Started works to widen Lower Plenty Road.
- Started building the new Motorway Control Centre.
- Temporarily realigned Manningham Road and Bridge Street to keep traffic moving while the new Manningham interchange is built.
- North East Community Fund established to support and strengthen local communities most impacted by construction. Nearly 100 recipients have already received funding for festivals, events, and upgrades to local infrastructure and community, sporting and recreational facilities.
Breakthrough achieved for the first stage of the tunnel between Manningham and Bulleen
Financial Performance
For the year ended 30 June 2025, STC’s comprehensive loss was $23.73 million (30 June 2024: $16.74 million loss). Total Equity of STC as at 30 June 2025 was $2,589.21 million (as at 30 June 2024, $540.00 million). The Net Cash Outflows from operating activities for the year ended 30 June 2025 were $25.65 million (30 June 2024: $18.10 million).
| Year ended | 30 June 2025 | 30 June 2024 |
|---|---|---|
($’000) | ($’000) | |
| Operating results | ||
| Other income | 3,797 | 2,412 |
| Total operating income | 3,797 | 2,412 |
| Employee benefit expenses | (8,567) | (5,622) |
| Depreciation | (706) | (63) |
| Interest expense | (176) | (17) |
| Other operating expenses | (18,012) | (13,451) |
| Total operating expenses | (27,461) | (19,153) |
| Other gain/(loss) from other economic flows | (67) | - |
| Comprehensive result (loss) | (23,731) | (16,741) |
| Financial status | ||
| Total assets | 7,853,120 | 4,644,618 |
| Total liabilities | (5,263,912) | (4,104,622) |
| Total equity | 2,589,208 | 539,996 |
Board Governance
Under Section 21 of the NEL Act, STC must have a Board of Directors comprising no fewer than three and no more than nine Directors. The STC Board Charter provides how the Board will lead STC’s governance, set strategic vision and objectives, oversee key strategic and operational activities, and establish committees as required. As at 30 June 2025, the STC Board is comprised of three Directors. Attendance by Directors at Board meetings held during the reporting period is detailed below.
| Board member | Eligible to attend | Attended |
|---|---|---|
| Brad Vann, Chair | 8 | 8 |
| Aneetha de Silva, Deputy Chair | 8 | 7 |
| Leilani Frew, Director | 8 | 8 |
Directors’ fees are fully disclosed in Note 9.1. There have been no related party transactions with Directors and their related entities STC Committees of the Board.
Committees
The STC Board has established the Audit and Risk and People Committees. Their purpose and responsibilities are listed below.
| Audit and Risk Committee | People Committee |
|---|---|
|
|
As at 30 June 2025, the Audit and Risk Committee comprises two Board Directors and an independent appointee. Attendance by Directors at the Audit and Risk Committee meetings held during the reporting period is detailed below.
| Audit and Risk Committee member | Eligible to attend | Attended |
|---|---|---|
| Leilani Frew, Chair | 5 | 5 |
| Brad Vann, Member | 5 | 5 |
| Aneetha de Silva, Member | 2 | 2 |
| Janice Morris, Independent Member | 3 | 3 |
As at 30 June 2025, the People Committee comprises two Board Directors. Attendance by Directors at the People Committee meetings held during the reporting period is detailed below.
| People Committee member | Eligible to attend | Attended |
|---|---|---|
| Aneetha de Silva, Chair | 3 | 3 |
| Brad Vann, Member | 3 | 3 |
Corporate and risk management
Over the year, STC continued to develop corporate systems and processes required to support the organisation’s development. Key changes included:
- The continued implementation of an integrated risk management framework, which provides a mechanism for monitoring and mitigating risks across the entire organisation. This includes STC’s obligations in relation to the delivery of the North East Link Primary Package, its direct role in the procurement and delivery of the Toll Collection Capability Project, and other corporate and financial risk management obligations.
- Continued build out of corporate systems, delivery models and policies, to refine STC’s reliance on DTP and other parts of Government for support in the administration of human resources, ICT and other corporate functions. This is in line with STC’s statutory role as an independent, commercial entity.
- Completed its suite of corporate policies and processes, which will position the organisation to move into the operations phase of the North East Link, while ensuring that whole of government regulatory and compliance obligations continue to be met.
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