AECOM has settled a major lawsuit over Australia's Clem Jones Tunnel (CLEM7) PPP project, which was Brisbane's first private tollway.
The engineering firm, which was held accountable when the project went to bankrupt, has settled the lawsuit over forecasts it made for the project, paying a total consideration of A$280 million (US$196.3 million) to creditors. These documents have already been filed with Australia's corporate regulator.
According to sources, the company has decided no longer provide traffic forecasting for toll roads in Australia, but it will continue expanding its Australian business focused on engineering and design consultation for the mining and construction sectors.
Brisbane's Clem7 tunnel comprises 6.8 km tollway including a 4.8 km tunnel linking roads on each side of the Brisbane River.
In late September 2013 the project was sold to Queensland Motorways for A$618 million, a fraction of the A$3 billion it cost to build. RiverCity Motorway, the previous owner of the tunnel, was placed in receivership in February 2011, less than a year after it was opened to motorists as the company failed to attract the number of motorists that were forecast.