Emergency debt cap hike for water corporations

A BRIEF requesting approval of a total of $36.5 million in additional debt across four Victorian water corporations has been approved - including Wannon Regional Water Corporation with a debt increase from $19 million to $37.5 million due to a cost blowout on the Warrnambool Sewage Treatment Plant project. Photo: GLENN GUY.

By Admin

May 06, 2024 | 4:00 PM

THE Victorian Government has been forced to approve an emergency increase to the debt caps of four Victorian water corporations – including Wannon Water - following project cost blowouts and revenue shortfalls.

Documents obtained by the Victorian Opposition under Freedom of Information have confirmed in May 2023, treasurer, Tim Pallas received a brief requesting approval of a total of $36.5 million in additional debt across four Victorian water corporations, including: