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

  • China looks to the future with major highway plans
    February 15, 2012
    China is still moving ahead with plans that will give it the world's biggest highway system. Patrick Smith reports. As China's economy grows even more, keeping the country on the move has become a priority for the government. While the country has made great strides over the past decade in improving its infrastructure, the number of vehicles has also increased rapidly, and in some instances restrictions have been placed on them.
    Read More
  • Mexico-Puebla highway second level build from early 2014
    May 3, 2013
    Construction of Mexico-Puebla highway’s second level will start in early 2014, according to the head of the Communications and Transport Ministry, Gerardo Ruiz Esparza. Meanwhile, the Secretariat of Communications and Transport in Mexico has opened an international tender process for the construction of the Siglo XXI road in the Morelos state. Those interested in taking part in the process have until 12 June 2013 to buy the tender's terms and conditions. The new contract involves the construction, operation
    Read More
  • Canada: work officially starts on Montreal’s Champlain Bridge
    June 25, 2015
    Canada’s infrastructure minister, Denis Label, officially broke ground for Montreal’s replacement Champlain Bridge, saying the project will likely cost US$3.42 billion. The 3.4km Champlain Bridge Corridor Project, including spans and highway expansions, is expected to be completed by 2019. SNC-Lavalin, the 50% stakeholder in the winning consortium Signature on the Saint-Lawrence, recently announced it had finalised the deal with new Champlain Bridge owner Infrastructure Canada. Signature on the Saint-
    Read More
  • Australian projects underway
    May 28, 2012
    The consortium building Australia's new Northern Link tollway expects the project to require four years to complete. The US$1.41 billion (A$1.5 billion) project is being carried out by a consortium led by Spanish contrator Acciona, with construction due to commence at the end of this year. The work is being part funded by a $745 million loan from the State Government for the area and will also receive $532 million of funding from the Federal Government.
    Read More

Highlighted Content