Press Releases 2005

August 29, 2005
Grand opening in Sydney: Privately financed Cross City Tunnel now in operation

The Cross City Tunnel in Sydney, one of the biggest privately-financed concession projects in Bilfinger Berger's portfolio has begun operations. The 2-kilometer-long toll tunnel beneath downtown Sydney has a project volume of €520 million.

The Cross City Tunnel closes a gap in the traffic network in the Australian metropolis and is making a major contribution to relieving traffic in the city center. Up to 90,000 vehicles will use the new high-speed connection daily. A consortium initiated by Bilfinger Berger planned, financed and built the structure in just 34 months. The consortium is now responsible for the operation of the tunnel for a period of 30 years.

Australia is one of Bilfinger Berger's most important markets. More than half of the equity capital devoted to concessions is accounted for by projects there. In addition to the Cross City Tunnel, other key projects include the 40-kilometer-long M7 Motorway to the west of Sydney and projects in health care and the prisons system.

Bilfinger Berger's concessions portfolio has developed dynamically in the last 12 months. "Our concessions activities are currently making a significant value contribution, which is increasingly noticeable in our Group earnings", stressed Herbert Bodner, Chief Executive Officer of Bilfinger Berger.