Deal: MinterEllison has advised the Victorian Government on the VicRoads Modernisation project.

Value: $7.9 billion

Area: Projects and infrastructure

Key players: MinterEllison's team was led by partners Andrew Rentoul and Kate Koidl.

Deal significance: Victorian treasurer, Tim Pallas and minister for roads and road safety, Ben Carroll last week revealed the outcome of the 15-month VicRoads Modernisation process. It will establish a 40-year partnership in which the Government retains ownership of VicRoads, while generating $7.9 billion in upfront proceeds for the State, which will be invested in the new Victorian Future Fund to help manage Victoria's pandemic debt.

The project will bring benefits including upgraded customer service systems, Custom Plates services and user-friendly registration and licensing. The Government will immediately deliver benefits for Victorian drivers through a package that will slash licensing and online testing costs, and reward safe driver behaviour. The joint venture partner has a strong track record of successfully partnering with governments to deliver services, according to treasurer Tim Pallas.

“This is a win for all Victorians – it means a better experience for drivers and owners of cars, motorbikes, trucks and boats, and continued investment in VicRoads for future generations,” he said.

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“It’s a terrific start for the Victorian Future Fund, which will deliver major benefits for Victorians as we continue to recover strongly from the shocks of the pandemic.”

Commenting on the deal, MinterEllison stated: "This is a very significant project for Victorians, delivering better customer experience for drivers, protection and creation of jobs, and long-term benefits through the Victorian Future Fund."

"MinterEllison is proud to have advised the Victorian Government.”