Penn Pike pays first 'concession fee' of $62.5m to state
Posted Wed, 2007-08-08 20:16
The Pennsylvania Turnpike say they have made their first payment to the state under the terms of the recently passed
legislation - Act 44 - giving them a 50 year concession to toll I-80 and authority to raise tolls on the mainline by 25%.
The $62.5m payment made yesterday to the state department of transportation (PennDOT) is the first of four to be made this year under the monetization of the Turnpike. Over 40 years it is estimated the state will be paid some $57b.
TOLLROADSnews 2007-08-08
The Pennsylvania Turnpike say they have made their first payment to the state under the terms of the recently passed legislation - Act 44 - giving them a 50 year concession to toll I-80 and authority to raise tolls on the mainline by 25%.The $62.5m payment made yesterday to the state department of transportation (PennDOT) is the first of four to be made this year under the monetization of the Turnpike. Over 40 years it is estimated the state will be paid some $57b.
TOLLROADSnews 2007-08-08