International infrastructure business Plenary Group has taken over management of Peninsula Link in Melbourne’s southeast, adding another project to its growing list of assets under management.
The 27-kilometre toll-free road between Carrum Downs and Mount Martha was procured under a public-private partnership with the Victorian Government and opened to the public in January 2013.
Plenary has taken over the asset management role on behalf of Southern Way, the entity contracted to operate Peninsula Link under a 25-year concession.
The project complements Plenary’s other road projects across Australia, Canada and the US, including the $1.6 billion Toowoomba Second Range Crossing currently under construction in Queensland.
“We are excited to be taking over such as strong asset, and one that complements our existing portfolio of projects so well,” said Plenary Group CEO Glenn Hay in a statement.
“Our asset management team is looking forward to the long-term relationship with Southern Way and the broader road user community to ensure the smooth and continued running of the road.”
Plenary is now responsible for delivering or managing 60 assets across Australia, Canada and the US.
Mr. Hay said Lendlease Services will continue to provide on-site operations and maintenance services under the terms of its agreement with Southern Way.