The Lane Cove Tunnel has been sold for $630.5 million - less than half what it cost to build - just months after the former operator, Connector Motorways, was placed in receivership with crippling debts. Transurban announced this morning it had bought the 3.6-kilometre tunnel, subject to RTA approval, for $630.5 million. The company - which also operates a major tollway in Melbourne and Sydney's M2 motorway - said the deal includes the tunnel's assets and the 27-year toll concession. The $1.6 billion tunnel opened in 2007 as a private-public partnership with the NSW government, but suffered from weaker than expected traffic numbers. NSW Roads Minister David Campbell said the sale would not lead to increased tolls and would not damage future private-public partnerships in the state.