NSW: KordaMentha appointed receivers to Cross City Tunnel =3

AAP General News (Australia)
12-27-2006
NSW: KordaMentha appointed receivers to Cross City Tunnel =3

The tunnel's financing was based on projections of 90,000 vehicles using the infrastructure
each day.

But traffic currently runs to about 30,000 per day.

The tunnel's biggest shareholder is Chinese billionaire Li Ka-shing, who invested a
$100 million stake in the tunnel project.

Pension funds also have invested millions of dollars on behalf of public servants and police.

The state government has said taxpayers would not incur the burden of any financial
loss suffered by the tunnel's operators.

AAP klm/de

KEYWORD: TUNNEL RECEIVERS 3 SYDNEY

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