Explores the events associated with the development of Sydney Cross Tunnel, innovative infrastructure project developed by the government of New South Wales in Australia in conjunction with infrastructure Cheung Kong, Cheung in Hong Kong Hong Kong-listed infrastructure investment arm. The tunnel opened to traffic in 2005. Analyzes three issues: the political and institutional background, which led to the decision to develop the Cross City Tunnel, the general economic assumptions on which the company was founded, and the build-own-operate-transfer project financing mechanisms put in place for the development and financing of the tunnel company. Explains the mechanism of a typical project finance surrounding road infrastructure, which seems to have failed, and raises questions about the assessment of demand for the tunnel and traffic management arrangements for access to the tunnel. "Hide
by Maria Ho, Frederik Pretorius Source: University of Hong Kong, 38 pages. Publication Date: March 13, 2007. Prod. #: HKU640-PDF-ENG
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