In February 2002 the CrossCity Motorway Pty Ltd (CCM) was announced as the preferred proponent. CCM is a private consortium with three major shareholders: Bilfinger Berger BOT, Cheung Kong Infrastructure and clients of Deutsche Asset Management. The cost of the CCT is approximately $680 million funded by user-pays tolls. This cost is for development, design, construction, fitout and commissioning. The total cost funded by CCM (including financing costs) is just over $1.0 billion. CCM will operate the tunnel for 30 years until 2035 when it transfers to public ownership.