Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBFOM All Private Finance
# of Projects: 1
100% of the Results

Background informationProject Created: October 8, 2008

Project Name: Hong Kong Cross Harbor Tunnel
Year in Operation: 1972
Sector: Transportation
Subsector: Tunnel
Status: In Operation
Type: New Facility
Description: 1.8 km tunnel crossing between Hong Kong Island and Kowloon, privately constructed and operated by the Cross-Harbour Tunnel Company Ltd. Opened in 1972 under a 30 year franchise agreement from start of construction. Turned back to the government at end of concession in 1999.
Delivery Method as described in the country where it's located: Build Operate Transfer
Is the project still active: Yes
Comments: First tunnel crossing in Hong Kong. Delivered and financed at private sector risk -- and on a "closed book" basis. Competitive procurement based on established general requirements for the tunnel, alignment, connections, ventilation, and roadway components. Traffic risk is borne by private sector competitors.

Project Locations

Address:
City: Hong Kong
State:
Country: Hong Kong, Special Administrative Region of China

Address:
City: Wan Chai
State:
Country: Hong Kong, Special Administrative Region of China

Address:
City: Hung Hom
State:
Country: Hong Kong, Special Administrative Region of China

Souces of Project Support (Non-monetary)

Checkbox Checked Land: Under harbor, at connections. Government provided reclaimed land at each end of tunnel for points of access to existing roadworks.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Right to collect tolls part of concession. Prior to this tunnel, ferry traffic highly congested. After this tunnel opened, traffic volume very high.

Souces of Project Support (Monetary)

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Details not disclosed.

Checkbox Checked

From Producers as Equity: Details not disclosed.

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 independent checking engineer? Yes
Project Finance Method: All By Private 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
30
0
Forms
Description
 
 

Project Value (If and As Known)

Date of Estimated Project Value: January 1, 1969
Project Value
Hard Cost
Hard & Soft Costs
Total
< $200 Million US
< $200 Million US

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