Clem7 denies financial woes; aims to better traffic conditions
Operators of Brisbane's Clem7 have brushed off claims that the company has financial problems as it plans to extend its discounted tolls to increase dismal traffic flows.
From the predicted 60,000 vehicles, only 22,000 to 24,000 vehicles make use of the cross-city tunnel each day.
Chief executive Flan Cleary of RiverCity Motorway said on Wednesday that a 30 per cent toll discount, which was supposed to end by July 30, may be extended.
He also added that a reduction in the permanent toll may be considered but needs further discussions later for the month.
Mr. Cleary said that traffic flows were low despite forecasts that any new toll roll road will face the same obstacles and it's only a matter of inviting people to try it.
"I'm very disappointed with the actual traffic we've got," he said.
He announced the RiverCity's plans to push for new marketing campaigns and better signage to boost usage.
Mr. Cleary is optimistic that motorists refusing to pay tolls might change over time.
"We've just got to get more people to try the tunnel. The people that use it like it."
Mr. Cleary also denied statements that company is in financial troubles. He called on shareholders to be patient since the company has reserves of $180 million to counter forecasts versus actual usage.
The company also commissioned a new traffic study to modify and increase traffic flows. He is confident it will get better once the airport is completed in 2012.
"(By June 2012) we would love to have 75,000 to 80,000 vehicles using the tunnel each day.”