• Thu
  • Jul 31, 2014
  • Updated: 2:42pm

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

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