The contract is a major milestone in the development of this new company formed by a 50/50 investment partnership between CIMIC and funds managed by affiliates of Apollo Global Management. Ventia has been chosen as the name for the partnership.
Ventia Chief Executive Officer Mike Metcalfe said “This new work is an example of the expertise our new company has to offer.
“Yarra Valley Water is Melbourne’s largest water retailer and we share their commitment to customer service and safely delivering sustainable water and sewerage services.
“We will have a strong focus on Yarra Valley Water’s priorities for improving business, environmental and customer service outcomes, as well as improving whole-of-life asset management through our service methodology, use of technology and innovation.”
Ventia will undertake reactive and preventative civil maintenance and minor capital works as well as providing mechanical and electrical maintenance on the water and sewer networks, treatment plants and pump stations.
Mobilisation is underway and Ventia will commence work with Yarra Valley Water in November 2015.
Ventia’s water capabilities span the full water cycle from supply catchments and waterways to distribution. The company operates and maintains desalination, potable water treatment, sewage treatment and recycle plants and associated water and sewer networks.
Ventia is one of the largest services companies in Australia, with 2014 revenue in excess of $A2.2 billion, over $A6 billion of work in hand and more than 6,400 direct employees.