Australia: Bidders shortlisted for RiverCity's Clem Jones Tunnel

In Australia, UBS Infrastructure Fund, Access Capital and Queensland Motorways are reported as heading the bidders' shortlist for the Clem Jones Tunnel of RiverCity. RiverCity's receiver KordaMentha and sell-side adviser Goldman Sachs have ushered through several shortlisted bidders through to the second round. The Clem Jones Tunnel was secured against RiverCity's debt pile of US$1.37 billion (AUD 1.50bn). It is thought that the road may be sold for around $550.3 million (AUD 600mn). Clem Jones Tunnel is sa
July 11, 2013 Read time: 1 min
In Australia, UBS Infrastructure Fund, Access Capital and Queensland Motorways are reported as heading the bidders' shortlist for the Clem Jones Tunnel of RiverCity.

RiverCity's receiver KordaMentha and sell-side adviser 3347 Goldman Sachs have ushered through several shortlisted bidders through to the second round. The Clem Jones Tunnel was secured against RiverCity's debt pile of US$1.37 billion (AUD 1.50bn). It is thought that the road may be sold for around $550.3 million (AUD 600mn). Clem Jones Tunnel is said to have around 29,000 to 30,000 users per day, and is now controlled by RiverCity's lenders. Formal due diligence for the road will start in the upcoming weeks, with binding offers due in September 2013.
Road Structures

For more information on companies in this article

Related Content

  • UGL wins Australia’s NorthConnex M&E services contract
    September 7, 2015
    Engineering services provider UGL has signed a four-year deal with the Lend Lease Bouygues joint venture that is building the NorthConnex motorway in Sydney, Australia. The US$329 million contract is for the design, procurement, construction and commissioning of the electrical, mechanical, communication, fire and control systems needed for the project’s 9km twinned tolled tunnel. UGL provides outsourced engineering, asset management and maintenance services to rail, transport, power, resources, water an
    Read More
  • Around US$1.87bn for Sydney roads and other infrastructure over 10 years
    May 20, 2013
    Roads in Sydney are set to benefit as part of a huge US$1.87 billion (AUD 1.9bn) capital works spending programme for the city over the next ten years. The programme, aimed at enhancing the international reputation of the city, includes $175.01 million (AUD180mn) for new roads and footpaths in Sydney. In order to transform George Street, $213.91 million (AUD 220mn) will be spent on connecting light rail and laneways, while $388.92 million (AUD 400mn) will go on upgrading Green Square, and a further $97.23 m
    Read More
  • Possible PPP for Mulalo-Loboguerrero
    September 9, 2024
    The current contract is a design-build-finance-operate-maintain for upgrades and new lanes for the 32km-long project in the Valley of the Cauca, Colombia.
    Read More
  • Ambitious road tunnelling projects around the world
    November 29, 2013
    The construction of the world’s longest subsea road tunnel in Norway and a vital new link under the Bosphorus Strait in Turkey are among a host of exciting, major road tunnel-based projects currently being undertaken across the globe. Guy Woodford reports Sandvik DTi series tunnelling jumbos are being used for the excavation of Solbakktunnel, set to become the world’s longest subsea road tunnel.
    Read More

Highlighted Content