Overseas consortia include: Northern Direct including the company building the Go-Between Bridge with companies from France and the United Kingdom; Laing O'Rourke and Transfield; TransCity including Brisbane-based developers BMD Constructions plus firms from Spain and Italy; Dragados Northern Link with business interests from Spain; and Korea's Daelim and Korea Expressway Joint Venture. Join discussion...

Following nearly four years of procurement efforts, the Port of Miami Tunnel PPP reached financial close on October 15 after an extension of the October 1 deadline. The financing package included $341M senior debt from a consortium of ten banks, $341M federal TIFIA loans, and $80M equity from project sponsors Meridiam Infrastructure (90%) and Bouygues (10%). Join discussion...

A Turkish-Korean consortium awarded a 30-year concession to build and operate a $1 billion tunnel across the Bosphorus is looking for equity co-investors, two people familiar with the situation said. A joint venture between Turkey's unlisted Yapi Merkezi and South Korean firms Samwhan Corporation, SK, Kukdong, Namkwang (001260.KS) and Hanshin hopes the equity raised will help finance what is a technically challenging project, the sources said. Join discussion...

After teetering on the edge for four days, the Port of Miami tunnel project appeared to be back on track Monday after the Florida Department of Transportation agreed to extend its deadline by at least eight days for the city of Miami to confirm its financial commitment to the on-again, off-again Join discussion...

With its October 1 deadline for financial close nearing, the Port of Miami Tunnel (POMT) procurement appears on track, with a ten-bank club having this week committed the necessary support for the anticipated $354M bank debt, supplementing a $354M TIFIA loan. Join discussion...

Chilean highway concessionaires could submit a project to the public works ministry (MOP) to build an alternative "low-altitude" highway tunnel between Chile and Argentina, the president of Chilean concessionaires association Copsa, Herman Chadwick, told BNamericas. This tunnel would compete with the Trasandino Central rail tunnel project, led by Argentine firm Corporación América (CASA). Join discussion...

State officials said today they reached agreement on "commercial issues" with a French-led construction group that will design, build, finance, operate and maintain the $1 billion project. That means the construction group can pursue final financing for the project. A financial agreement is to be finalized by Oct. 1. The Florida Department of Transportation pulled the plug on the project in December because the construction group's initial financial partner couldn't raise enough cash. Join discussion...

Miami-Dade County Mayor Carlos Alvarez is hitting the road Monday to lobby for the stalled Port of Miami tunnel project. The mayor is taking a team of local politicians to Tallahassee to meet with Florida Department of Transportation Secretary Stephanie Kopelousos, who recently said she wanted to scrap the previous $1.8 billion arrangement to build and manage the tunnel. Join discussion...

Miami-Dade Mayor Carlos Alvarez made it clear he wants quick action on the $1 billion Port of Miami tunnel project, one day after state officials scrapped the deal to build it. Join discussion...

The CAN$43bn (US$34.5bn) Ontario Municipal Employees’ Retirement System (OMERS) has taken a majority stake in the Detroit River Tunnel in a renegotiation of terms with its partner Canadian Pacific Railway (CP). Join discussion...