• Sun
  • Dec 21, 2014
  • Updated: 1:41am

Toll Roads in Australia

Tunnel deal loophole lets firm raise tolls despite profits

The Tai Lam Tunnel is attracting more revenue from road users, but the operator has nevertheless raised tolls as income still falls below the minimum government projections, according to submissions to the Legislative Council yesterday.

Friday, 26 October, 2007, 12:00am

CKI to recoup part of outlay on toll tunnel

Cheung Kong Infrastructure Holdings (CKI) will recoup only part of its investment in a beleaguered toll tunnel in Sydney after the sale of the A$1 billion (HK$6.6 billion) project for about A$700 million to an ABN Amro-led syndicate, according to the debt-ridden tunnel company's receiver.

21 Jun 2007 - 12:00am

CKI sells Sydney tunnel stake as profits drop 39pc

Cheung Kong Infrastructure Holdings (CKI), which reported a 38.89 per cent drop in full-year net profit, said it was selling about half its 40 per cent stake in a Sydney road tunnel in a deal that it expected to finalise by June.

16 Mar 2007 - 12:00am

CKI mulls offers for holding in Sydney toll tunnel

Cheung Kong Infrastructure Holdings (CKI) is considering uninvited offers for its 40 per cent stake in the soon-to-be-opened Lane Cove toll tunnel in Sydney, which may lead to a A$310 million (HK$1.89 billion) sale, sources say.

12 Jan 2007 - 12:00am

Sydney

Our new City Views columns will bring you despatches from the international cities that are a home way from home for many Hongkongers

It's turned out to be one of the biggest corporate disasters in Sydney's history.

When a consortium put together plans to dig a toll road under the city, it looked like it was on to a winner.

4 Jan 2007 - 12:00am

CKI's Sydney tunnel asset in receivership

Cheung Kong Infrastructure Holdings' 50 per cent-owned Sydney Cross City Tunnel Motorway in Australia has gone into receivership with debt of A$560 million (HK$3.41 billion), fuelling analysts' fears of a possible provision for the remaining HK$400 million value of the toll tunnel.

28 Dec 2006 - 12:00am

Tunnel vision

It seemed like a sensible idea - dig a tunnel beneath central Sydney to relieve the traffic congestion clogging the city's streets. After years of planning and A$680 million ($3.98 billion) in construction costs, the Cross City Tunnel opened to great fanfare at the end of August.

14 Oct 2005 - 12:00am

Why not test tunnel traffic flow?

I refer to the issue of cross-harbour tunnel tolls.

On behalf of Clear the Air environmental group, I was present at Legco's recent public hearings on the controversial plan for the Central-Wan Chai bypass.

4 Jan 2004 - 12:00am

Discounts at tunnel extended

Discounts for goods vehicles using the Western Harbour Tunnel will be offered for a further three months, it was announced yesterday.

The discounts, introduced on October 20 to lure traffic to the tunnel, will continue to run until the end of March. They had been due to end at the end of this month.

30 Dec 1998 - 12:00am

Rethink over free passage

A second free passage through the Western Harbour Tunnel may be cancelled after last Sunday's traffic chaos.

The Transport Department admitted yesterday another toll-free day to publicise the tunnel on May 18 might cause similar havoc unless more measures were taken to manage vehicles.

6 May 1997 - 12:00am

Last-minute bid to prevent tunnel chaos

Last-minute steps are being taken to reduce the chance of traffic chaos when the Western Harbour Tunnel opens at 1 pm today.

Commuters will be able to use the new route to cross the harbour on their way home from work after the lunchtime opening by Chief Secretary Anson Chan Fang On-sang.

30 Apr 1997 - 12:00am

Tunnel toll

OFFICIALS are sticking to the controversial proposal to triple cross-harbour tunnel tolls, according to a paper to be examined by the Executive Council this morning. The Transport Branch argues that radical measures have to be taken to solve the worsening congestion.

25 Jul 1995 - 12:00am

Peak hour congestion

IT is not just the numbers of cars on Hong Kong roads that matters, but when and how people use them. Each morning I wait for the 260 bus at Shouson Hill, the last stop before the entrance to the Aberdeen Tunnel.

To amuse myself - small things amuse - between erratic bus arrivals I have taking to assessing the status of cars heading through the tunnel at peak hours.

14 Nov 1994 - 12:00am

Only a stop-gap measure

I REFER to the letter from Mr Gary Kwong Kwok-hong, published in the South China Morning Post on May 5, in which he queried why Hong Kong-bound auto toll users are given priority at the Cross Harbour Tunnel entrance during morning peak hours.

8 Jun 1994 - 12:00am

No tunnel shift changes during peak periods

I REFER to the letter from ''Name and Address Supplied'' (South China Morning Post, February 9), citing reasons for congestion at the approaches to the Cross Harbour Tunnel and would like to take this opportunity to reply to three specific points in the letter.

Firstly, shift changes do not occur during peak periods.

19 Feb 1994 - 12:00am

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