04 Aug 2014
PortMiami Tunnel Opens Featured
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Published in Real Estate
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After long and long planning and constructions, the PortMiami tunnel is open for traffic. The tunnel originally planned to be opened on last May 19th after it's official opening ceremony, but the equipment issues kept the tunnel closed for another 76 days. Sunday morning, the tunnel finally has it's first official drive.

Bouygues Civil Works Florida, the design and build contractor of the tunnel, paid $115,000 every day that the tunnel remained closed after the opening ceremony, eventually racking up $8.74 million in fees.

Miami Access Tunnel (MAT) Concessionaire will be paid $350 million once the Florida Department of Transportation gives the tunnel its final acceptance. The concessionaire will also be paid $32.5 million for the next 30 years for operating the tunnel.

Planning for the tunnel began in 1982 and construction didn’t begin until 2010. At least 70 percent of the cargo trucks that travel to PortMiami are expected to use the tunnel rather than the previous route through downtown Miami.


Source : Emon Reiser,South Florida Business Journal

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