Private Sector Implementation and Operation
Annex B
Conditions of Franchise
1.
On
It is proposed that the precedents set by the Eastern
Harbour Crossing would be followed as far as possible.
this basis the principal conditions proposed, subject to
negotiation, would be:-
(a) A 30-year of Franchise (from the opening of the
tunnel).
(b) A maximum construction period (probably about 48
months, as recommended by Mott, Hay, Anderson and
Partners giving a completion date for the tunnel and
its approach roads in 1992).
(c) Government representation on the board of directors.
(d) A minimum level of issued share capital to support
the financing of the project.
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XCR (87)