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

  • Tanzania delivers road construction boost
    November 2, 2012
    Plans to upgrade two major roads in Tanzania will bring huge benefits to the East African nation. Shem Oirere reports Tanzania’s bid to retain or improve its position as East Africa’s second largest economy is gaining momentum as the government moves to support the achieved growth and contribute more to ongoing regional economic integration through the improvement of its transport infrastructure. The country received a major boost in April, 2012, when the African Development Bank (AfDB), one of Tanzania lea
    Read More
  • Fluor and ACS Infrastructure Canada win Gordie Howe Bridge deal
    October 2, 2018
    Bridging North America will build the Gordie Howe Bridge, named after a famous Canadian ice hockey player and leading scorer A partnership including Fluor Canada and ACS Infrastructure Canada has been chosen to design, build, finance, operate and maintain the Gordie Howe International Bridge project. The client, Windsor-Detroit Bridge Authority (WDBA), announced the appointment of Bridging North America group in the Canadian city of Windsor, across the Detroit River from Detroit in the US state of Michig
    Read More
  • Australian road developments in Queensland and NSW
    January 19, 2023
    Key Australian road developments are planned in Queensland and NSW.
    Read More
  • Alleviating Moscow's ring road congestion
    February 20, 2012
    The US$10.5 billion CKAD (Moscow Region Ring Road), being planned and procured under the direction of the Ministry of Transport of Russia, is just one of the roads highlighted at the Moscow Forum.
    Read More

Highlighted Content