Queensland Motorways
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| Company type | Public |
|---|---|
| Industry | Transport |
| Founded | 1980 |
| Headquarters | Brisbane , Australia |
Area served | South East Queensland |
| Services | Road infrastructure |
| Parent | QIC |
| Divisions | Operations Corporate Finance Technology and Development Engineering |
| Subsidiaries | Port Motorway Company Logan Motorway Company |
Queensland Motorways manages the 70 kilometre long go via network of tolled roads which includes the: Clem Jones Tunnel (CLEM7), Go Between Bridge, Gateway Motorway and Sir Leo Hielscher Bridges; the Gateway Extension and Logan Motorway.[1] In 2015 it will also operate Legacy Way when it opens to motorists.
The company began operating in 1980 as the Gateway Bridge Company. It has its headquarters at Eight Mile Plains, Brisbane. In 2011, the State Government transferred ownership of Queensland Motorways to the State’s Defined Benefit Fund (under the management of QIC Global Infrastructure). In April 2014 QIC announced the sale of Queensland Motorways to a consortium comprising Transurban, Australian Super and Tawreed Investments. The sale was finalised on 2 July 2014 and the consortium appointed Transurban as the manager of Queensland Motorways.
In late January 2015 the Queensland Motorways corporate brand was permanently transitioned to the Transurban brand and logo, to reflect the integration of its operations with the wider Transurban Group.
Government sale
On 2 June 2009, the government announced the 'Renewing Queensland Plan' that would sell assets to raise $15 billion, and avoid a further $12 billion required in future capital investment.[2][3] Queensland Motorways was included in this process.
In 2011, the State Government transferred ownership of Queensland Motorways to the State’s Defined Benefit Fund as managed by QIC (Queensland Investment Corporation) Global Infrastructure. Queensland Motorways now operates under a 40–year Road Franchise Agreement with the state.[4] This transfer set out that the state would continue to own the road and bridge infrastructure on the Gateway and Logan Motorways, while QIC would own the QML business and the right to toll the motorways. It also limited toll increases to not exceed CPI increases.[5]
On 12 December 2013, QIC announced that Queensland Motorways, with an estimated value of more than $5 billion, would be auctioned off. It was claimed that a change of ownership would not have any impact on existing tolls. Indicative bids will be made by the end of January, and then shortlisted bidders will then be requested submit binding bids, with the process scheduled for completion in April 2014.[6]
On 2 July 2014 Transurban completed financial close on the acquisition of Queensland Motorways.[7]
2015 Referred to the ACCC for investigation
Tolling system
Queensland Motorways launched its toll payment brand, go via in 2009 [8] to support the introduction of a non-stop, electronic tolling system on its toll road network and on other Australian toll roads.
Vehicles are detected as they travel through a toll point and tolled in two ways. Firstly, with an in-vehicle tag device.[9] Alternatively with video sensors identify the vehicle and registration plate number as it passes through a toll point.[10] As with all toll roads in Australia, motorists have three days to pay their tolls or receive a $180 fine.[citation needed]
Acquisitions
In December 2013 Queensland Motorways acquired the rights to manage and toll the CLEM7 tunnel in a $618 million deal with RiverCity Motorway receivers.[11]
Structure
The company has five divisions responsible to a Chief Executive Office. These are the Operations Group, Corporate Group, Finance Group, Technology and Development and Engineering.[12]
See also
References
- ^ "About Queensland Motorways". Queensland motorways. www.qldmotorways.com.au. Retrieved 15 April 2013.
- ^ Marissa Calligeros (2 June 2009). "Queensland asset sales to reap $15 billion". Brisbane Times. Fairfax Media. Retrieved 20 June 2010.
- ^ "Queensland assets sale". www.qld.gov.au. Archived from the original on 14 April 2010. Retrieved 20 June 2010.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "QML transfer finalised". QML transfer finalised. http://statements.qld.gov.au. Retrieved 15 April 2013.
{{cite web}}: External link in|publisher= - ^ "Qld Motorways transferred in $3bn deal". Brisbane Times. Fairfax Media. Retrieved 15 April 2013.
- ^ "Queensland confirms $5 billion toll road auction". Sydney Morning Herald. 13 December 2013. Retrieved 15 December 2013.
- ^ "Acquisition of Queensland Motorways complete". Retrieved 9 July 2014.
- ^ "About go via". About go via. https://www.govia.com.au. Retrieved 15 April 2013.
{{cite web}}: External link in|publisher= - ^ "go via tag". go via tag. www.govia.com.au. Retrieved 15 April 2013.
- ^ "go via video". go via video. www.govia.com.au. Retrieved 15 April 2013.
- ^ http://www.qldmotorways.com.au/media/News.aspx?NewsCode=503
- ^ "Organisational Structure". Queensland Motorways. Retrieved 2 November 2011.
External links
- go via - go via website.
- go via network - go via network website.