Transfield undertook the Yan Yean Water Treatment Plant project in joint venture with United Utilities (formerly North West Water). This Build, Own Operate and Transfer project at the Yan Yean Reservoir on the outskirts of Melbourne was Australia's first privately-owned water infrastructure development.
The $25 million plant was fully operational by 1994 and continues to supply Melbourne with 155 megalitres of treated water per day as per the 25 year agreement with Melbourne Water.
Transfield Holdings transferred its interests in Yan Yean to Transfield Services Limited (TSE) just prior to listing in 2001. Transfield Services changed its name to Broadspectrum in 2015.