Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: July 16, 2009

Project Name: Sydney Harbor Tunnel
Year in Operation: 1992
Sector: Transportation
Subsector: Tunnel, Roads, Electronic Vehicle ID / Toll Collection
Status: In Operation
Type: New Facility
Description: The project was implemented to relieve congestion on the Sydney Harbor Bridge, the other vehicular crossing for the Sydney Harbor. The 2.3 km tunnel has two lanes in each direction and carries approximately 86,800 veciles per day (as of 2005).
Delivery Method as described in the country where it's located: Public Private Partnership
Is the project still active: Yes
Comments: DBOM with a 30 year commitment after which the tunnel will be given to the NSW government. The project commenced with an unsolicited proposal.

Project Locations

Address:
City: Sydney
State: New South Wales
Country: Australia, Commonwealth of

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: The NSW government leased the land to the Sydney Harbor Tunnel Company for 30 years.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): The joint venture private sector entity will operate the tunnel for 30 years, after which it will be given back to the NSW government (August 2022).

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: The NSW government allocated toll collection revenue from the other Harbor crossing (the Sydney Harbor Bridge) to help finance the tunnel project, raising the toll in 1987 and again in 1989. Once the tunnel was complete, the government began collecting tolls to help repay private investors. In 2007, toll receipts were reported to be $43.7 million AUD while the tunnel expenses were $95.7 million.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Debt incurred by the private entity to finance the design and construction of the project.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
35
0
Forms
Description
 
 

Project Value (If and As Known)

Date of Estimated Project Value: May 31, 1987
Project Value
Hard Cost
Hard & Soft Costs
Construction
$250 Million - 1 Billion US
(none)
Total
$500 Million - 2 Billion US
(none)

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