Connector Motorways
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Connector Motorways was an Australian toll road operator which operated the Lane Cove Tunnel and the Falcon Street Gateway (now Military Road E-ramp) in northern Sydney.[1] Both projects opened to the public in March 2007. Connector was owned by CK Infrastructure Holdings (19.6%), AMP (15%) and Leighton (11%)[2]
Background
Connector Motorways started off as the Lane Cove Tunnel Company and was engaged by Roads & Traffic Authority to design, construct, maintain and operate the tunnel for 33 years on 1 October 2003.[3] Connector Motorways was supposed to operate the tunnel concession until 2037.[4]
Receivership
On 19 January 2010, Connector Motorways went into receivership[5] when traffic through the tunnel failed to reach the projected volumes. Toll road operator Transurban bought the tunnel in May 2010 for $630 million and became the new operator.[6]
References
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- ↑ KordaMentha appointed to Connector Motorways Pty Ltd. Script error: No such module "webarchive".. Retrieved 20 January 2010.
- ↑ Lane Cove Tunnel sold for $630 million - ABC News (Australian Broadcasting Corporation). Abc.net.au (10 May 2010). Retrieved 2013-09-07.