UniSuper has announced it has reinforced its long-term investment in Sydney’s Prospect Water Filtration Plant (Australia)

UniSuper extended its partnership with Sydney Water Corporation and French owned waste management and water treatment company SUEZ for a further 14 years from 2021 to 2035.

UniSuper first invested in the infrastructure asset, one of the world's largest water filtration plants, in 2001 and acquired a 49% equity interest, partnering in a joint venture with SUEZ, which owns the remaining 51%.

Commissioned in 1996, the plant has the capacity to provide drinking water for up to 85% of Sydney's population. It was built under a 25-year build, own, operate and transfer agreement that was originally due to expire in 2021.

Under the agreement the Prospect Water joint venture will continue to operate the plant 24-hours a day, seven days a week, filtering up to three billion litres of water per day.

UniSuper's Head of Property and Private Markets, Kent Robbins said UniSuper embraced the opportunity to continue its long term commitment to this quality investment:

"The agreement provided UniSuper with an opportunity to extend the investment life and enhance its position in a quality asset, Mr Robbins said.

"It also provided an opportunity to invest additional capital with attractive returns."