Ventia to divest Toowoomba crossing contract

The news: Infrastructure services provider Ventia has agreed to divest its contract for the Toowoomba Second Range Crossing in Queensland to a joint venture between Acciona and Ferrovial.

The numbers: Ventia will receive $6.3 million for the novation of the crossing. The company expects to recognise a profit of $20 million to $25 million on the sale, which it will recognise in its first half results for 2025.

The context: Ventia is currently the operations and maintenance service provider for the Toowwoomba crossing, which is a 41 kilometre open road bypass to the north and west of Toowoomba constructed under a public private partnership.

The company acquired the contract as part of its acquisition of Broadspectrum in 2020 and is scheduled to expire in 2043.