Aegis Correctional Partnership, led by Bilfinger Berger Project Investments (BBPI) , will build the new Ararat prison under a public-private partnership arrangement.

The new facility will be a 350-bed medium-security expansion of the existing Ararat Prison located approx. 110 miles west of Melbourne.

This project is a key part of the progressive upgrade of Victoria’s correctional system and will provide correctional services to meet future projected prisoner growth. There will be opportunities to share common buildings and support services between the new and existing facilities.

This is Australia's fifth prison PPP and the first Victorian social infrastructure project to be procured in accordance with the National PPP Guidelines introduced in November 2008.

The private sector consortium will design, build and finance the facility and maintain it for a period of 25 years, while custodial services will continue to be provided by the Department of Justice. In return, the consortium will receive quarterly service payments once the prison is operational, and upon meeting key performance standards.
The Ararat Prison expansion is expected to be completed in late 2012.

Finance partners are Commonwealth Bank of Australia (CBA), Bendigo and Adelaide Bank, and WestLB.
BBPI's equity investment amount s to about AUD 23.7 million (€ 16.3 million).