Work recommencing on stalled Portuguese tunnel

In Portugal work is restarting on the stalled Marao tunnel project. The Portuguese Government has assured financing from the EU to complete the necessary work for the 5.7km tunnel. The contractor working on the project originally hit financial problems, resulting in the work grinding to a halt and the Portuguese Government cancelling the contract with the original concession holder. The cost of the project has estimated at €204 million and the EU may finance up to €200 million of this. The package of works
February 27, 2014 Read time: 1 min
In Portugal work is restarting on the stalled Marao tunnel project. The Portuguese Government has assured financing from the EU to complete the necessary work for the 5.7km tunnel. The contractor working on the project originally hit financial problems, resulting in the work grinding to a halt and the Portuguese Government cancelling the contract with the original concession holder. The cost of the project has estimated at €204 million and the EU may finance up to €200 million of this. The package of works necessary includes four contracts for the design and construction, two civil engineering contracts and one to implement a toll charging system. In addition the concession may imply an investment of €400 million for a 30 year concession package.
Road Structures Finance & Funding

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