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

  • Australia’s Transurban sees boost in traffic and toll revenue
    January 14, 2015
    Transurban, an Australian manager of highways and developer of urban toll roads, saw toll revenue for the December 2014 quarter increase by more than 63% to US$304 million compared to the same period last year. For the half-year ended December 2014, toll revenue rose by 63.7% to nearly $602 million, compared to the corresponding period in 2013, a company statement said. Transurban, established in 1966 and based in Melbourne, owns CityLink in Melbourne, which connects three of the city's major freeways
    Read More
  • Brisbane's highway of distinction
    August 2, 2012
    A massive AU$2 billion update of the Gateway Motorway in Queensland is underway to improve an infrastructure stretched by population boom. Report and photographs by Adrian Greeman Just 20 years after the Australian city of Brisbane built its Gateway Motorway with a high slim signature bridge dominating the river skyline, the road is being completely revamped. Some 12km of urban route on the south of the Brisbane River is being expanded to take much increased traffic levels; the north is getting a completely
    Read More
  • Puerto Rico highway attracting bids
    February 29, 2012
    An interesting development is being seen in Puerto Rico, with various financial institutions bargaining hard to win a key highway concession.
    Read More
  • Slovakia: D4/R7 Bratislava bypass work to start early this year
    January 10, 2017
    Construction will start early this year on 59km of highway as part of the D4/R7 bypass of the Slovakian capital Bratislava. Ferrovial through its subsidiaries Cintra Infraestructuras and Ferrovial Agroman is leading the consortium on the public-private partnerships deal worth around €1.9 billion, according to media reports. Ferrovial reached financial close on the project in June, noting that their investment would be around €975 million. The first stage of the design, build, financing, operate and ma
    Read More

Highlighted Content