Cintra/JPMorgan dumped - regional officials vote 27/10 to have SH121 built by NTTA
Posted Mon, 2007-06-18 15:47
Politicians on the regional transportation council in the Dallas Fort Worth metro area voted decisively (27/10) this afternoon in favor of having SH121 toll project built by North Texas Tollway Authority (NTTA), the local public toll authority. They rejected the assessment of Texas Department of Transportation and their own consultants PricewaterhouseCoopers that the Cintra/JPMorgan concession proposal was better for the region than the NTTA offer.
A formal decision is still up to the Texas Transportation Commission (TTC) but local observers think that the state governing body
will go along with the regional decision. The TTC is due to consider the matter June 28.
COMMENT: This is wrong and disgraceful. Wrong because the Cintra/JPMorgan proposal was better - a far more solid offering with firm contractual commitments. NTTA's late offer was PR and political puffery. Disgraceful because NTTA should never have been allowed to intervene in a procurement that was 95% done. This is the kind of thing you expect to happen in Venezuela, not in America.
TOLLROADSnews 2007-06-18
Politicians on the regional transportation council in the Dallas Fort Worth metro area voted decisively (27/10) this afternoon in favor of having SH121 toll project built by North Texas Tollway Authority (NTTA), the local public toll authority. They rejected the assessment of Texas Department of Transportation and their own consultants PricewaterhouseCoopers that the Cintra/JPMorgan concession proposal was better for the region than the NTTA offer.A formal decision is still up to the Texas Transportation Commission (TTC) but local observers think that the state governing body
will go along with the regional decision. The TTC is due to consider the matter June 28. COMMENT: This is wrong and disgraceful. Wrong because the Cintra/JPMorgan proposal was better - a far more solid offering with firm contractual commitments. NTTA's late offer was PR and political puffery. Disgraceful because NTTA should never have been allowed to intervene in a procurement that was 95% done. This is the kind of thing you expect to happen in Venezuela, not in America. TOLLROADSnews 2007-06-18