The RiverCity Motorway Group is the first private tollway in Brisbane. This company operates in Queensland. The tollway that this group operates is th Clem Jones Tunnel or the CLEM7. They also created the tolling service provider called the FLOW tolling. This group won the rights to continue the operations in the Clem Jones Tunnel. When the CLEM7 was created back in 2010, it was going to have a concession period which will take 45 years before the City of Brisbane gets the tunnel back.
The group dropped the toll to $2.00 during June 2010 to increase the number of people who will be using the tunnel. However, even though there was a decrease in price, the number of people using the tunnel did not increased. So, during November, the toll went back to $ 3.00 then during April 2011, the toll became $3.95. This increase in price lead to the significant decrease to the numbers of people using the toll.
Because of the low number of patronage for the tunnel, the group was not able to raise enough amount of revenue. The RiverCity Motorway group still have an outstanding balance of A$1.3 billion. This is why, during 2011, the company was put into receivership. During June 2006, the RiverCity Motorway Group became a part of the Australian Stock Exchange list. The shares of the company was placed on a trading halt during February 24, 2011. This collapse of the CLEM7 is the same with the Lane Cove Tunnel of Sydney and the Cross City Tunnel as well.
Despite the small number of patronage, CLEM7 still toll some honors from the annual Queensland Engineering Excellence Awards. This was hosted by Engineers Australia. This annual awarding is to recognize the engineering that has contributed a lot to the nation. CLEM7 won the Project Infrastructure Over %50 million award during the awarding. The CLEM7 also won the RW Hawken Award. This award is the most prestigious award in Queensland. The judges were impressed with the state of the art innovative technology used for the tunnel.
Leighton Contractors and Baulderstone Nilfinger Berger Joint Venture constructed and designed the CLEM7 Project. The approach they used in building the tunnel was a fast track construction with design and construction that occurs at the same time and by using diesel cars. Because of this approach, the tunnel was finished 7 months earlier than the anticipated date that it will be finished. This was created for the RiverCity Motorway through a public and private partnership with the City Council of Brisbane. CLEM7 is one of the most advance roadway and tunnel when it comes to technicals. This tunnel has innovative designs, advance construction process, landmark urban design, and community consultations.
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