Meridiam Infrastructure is pleased to announce the successful closing of the Port of Miami Tunnel Project in Florida. Financial close was achieved on the 15th October 2009 making Meridiam Infrastructure a 90% shareholder in the project company Miami Access Tunnel alongside Bouygues Travaux Publics. This approximately USD 900 million project was supported by 10 international commercial banks providing senior debt financing with the additional senior capital coming from the TIFIA federal credit program.
 
The Port of Miami Tunnel Project consists of three components; the tunnel connection between Watson Island and Port of Miami, connections to the Port of Miami roadway system and a widening of the MacArthur Causeway bridge. The tunnel structure will comprise of two tunnels of a diameter of 36 feet, each containing two traffic lanes, curbs, walkways, ventilation fans and additional safety features. They will connect Watson Island and the Port of Miami beneath Government Cut, which is the main shipping channel in Biscayne Bay, moving traffic eastbound to and westbound from the Port diverting the Port traffic away from the heavily congested downtown Miami area. This project marks the first PPP project closed by Meridiam in North America.