Australian Education City
AUG. 29, 2019
Australian Education City would like to make the following official statement in response to numerous enquiries from the Media, Community Members and Investors.
Australian Education City Pty Ltd has applied to the Supreme Court of Victoria for judicial review of the State of Victoria's purported decision made in late June this year to ‘not proceed further’ with the Request for Expression of Interest process in relation to the East Werribee Major Development Parcel. The State’s decision came after five years of work by Australian Education City to develop a feasible project for the creation of the Australian Education City in East Werribee. The $31 billion project would have created a new city in East Werribee which would have generated 90,000 permanent jobs in education, R&D and other industries, and drawn 70,000 new residents to the precinct. Werribee is an area with one of the highest unemployment rates in Australia. Australian Education City is confused by the State’s approach. The State has not provided reasons for its decision to cancel the project. Australian Education City has also asked the Supreme Court to order the State to give reasons for its decision to terminate this important project in Melbourne’s west. Australian Education City believes that East Werribee should still be an employment precinct via a world class project that will create jobs and opportunities for the local area. Australian Education City’s proposal received strong support from participating parties. The State granted Australian Education City exclusive rights to negotiate with the State. Australian Education City secured about AUD$3 Billion from local and international investors as part of its proposal, meaning that project equity and infrastructure funding for the new city would not rely on the State’s balance sheet or financial guarantee. Australian Education City is an Australian owned consortium with partnerships with some of the world’s largest and most technologically advanced companies as partners. Our partners include PWC, IBM, Honeywell, Cisco, Telstra, JP Morgan, Jacobs, Power China (a Fortune Global 500 company) and support from China Development bank plus over a dozen globally ranked top 400 Australian and international universities that have expressed interest to participate. The East Werribee project, would deliver 7,000 jobs including apprenticeship opportunities and training in the first 3 years building up to 20,000 construction jobs a year. In its 27 August 2019 application to the Supreme Court, Australian Education City has asked the Court to overturn the State’s purported decision. Australian Education City reserves its rights, including to seek compensation for the valuable project ideas and modelling that the State has taken from Australian Education City, in addition to AEC's bid costs.