Brisbane’s Clem Jones tolled road tunnel goes up for sale

KordaMentha, a receiver, and investment bank Goldman Sachs have put the Clem Jones tolled road tunnel in Brisbane, Australia up for sale. Queensland Motorways as well as local and overseas pension funds are reported to be planning to bid for the asset, estimated to be worth US$617.15 million (AUD 600mn). The closing date for first round bids is expected in middle of June 2013 and completion of the deal is scheduled at the end of September 2013. The Clem Jones tunnel is owned by River City and the company ha
April 30, 2013 Read time: 1 min
KordaMentha, a receiver, and investment bank 3347 Goldman Sachs have put the Clem Jones tolled road tunnel in Brisbane, Australia up for sale.

Queensland Motorways as well as local and overseas pension funds are reported to be planning to bid for the asset, estimated to be worth US$617.15 million (AUD 600mn).

The closing date for first round bids is expected in middle of June 2013 and completion of the deal is scheduled at the end of September 2013. The Clem Jones tunnel is owned by River City and the company has rights to design, finance, build, commission, operate and maintain the tunnel until 2051. Brisbane City Council is expected to own the road tunnel after 2051. River City became insolvent in February 2011 after its debt reached AUD 1.5bn.

For more information on companies in this article

Related Content

  • Toll-tale market strength for leading tolling manufacturers
    May 22, 2014
    New major highway tolling solution supply contracts and the launch of cutting-edge tolling products have invigorated the global tolling technology market in the first half of 2014, as Guy Woodford reports Kapsch TrafficCom has been selected by North Tarrant Express (NTE) Mobility Partners LLC to provide the toll collection, intelligent transport and network communication systems for the NTE extension project in the US state of Texas. The NTE extension is approximately 16km long, and runs along I-35W north o
    Read More
  • St Petersburg plans road connections spending
    February 13, 2012
    The authorities in the Russian city of St Petersburg are setting aside funds for road construction and repairs for 2012.
    Read More
  • Ring road upgrade for Bucharest
    May 4, 2012
    Plans are in hand in Romania for the upgrades to the Bucharest ring road. This work is due to be completed by 2014, according to the country’s Transport Ministry. Reconstruction and modernisation of the Chitila-Voluntari segment of the ring road was completed in 2010 and the modernisation of another two segments were completed in 2011. Also, the upgrading of two further segments will be finished by mid 2013. The investment in the five segments of the ring road is expected to reach €100.17 mill
    Read More
  • We're here to help
    July 16, 2012
    Formed at the end of the Cold War, the European Bank for Reconstruction and Development has raised, and loaned, billions to revitalise infrastructure from central Europe to central Asia as Patrick Smith reports One of the highlights of the year for Thomas Maier has been the recent trip to Bratislava, the capital of Slovakia, where history was made. As the Business Group director in charge of the infrastructure sector at the European Bank for Reconstruction and Development (EBRD) he was present when contract
    Read More

Highlighted Content