Brisa/CCR selected as preferred concessionaire for NW Parkway CO
Posted Wed, 2007-04-11 13:52
A joint venture of the largest toll operators in Portugal and Brazil has been selected as preferred concessionaire to take over the Northwest Parkway in Denver Colorado. The Brisa/CCR team comprises dominant toll operators in Portugal and Brazil.
The Northwest Parkway Public Highway Authority (NWPPHA) says the board voted to start negotiations with Brisa/CCR with a view to a concession contract closing by June 14. They said that any concession would retire all the authority's $416m in debt and transfer all financial risks to the concessionaire.
Brisa Autostradas de Portugal SA is the privatized embodiment of Portugal's major government owned toll authority now traded on European stock exchanges.
NWPPHA a joint powers toll authority comprising the City and County of Broomfield, City of Lafayette, and Weld County said that they selected Brisa/CCR based on their "excellent history of toll operations in Europe" (nothing wrong with their history in Brazil either) and strong customer service.
NW Parkway which opened Nov 2003 is a 18km (11 mile) east-west portion of the incomplete belt route around the Denver area, the major portion of which is the E470 tollroad on the eastern side of the metro area. NW Parkway is a counterclockwise extension of E470 from I-25 west nearly to US36 in Broomfield. It is doing about 12k tolls/day, about a third below business plan.
CCH
Companhia de Concessoes Rodoviaras (CCR) in which Brisa has a large stake is a holding company based in Sao Paulo Brazil for six of the major toll concessions in Brazil totaling 1450km (902 miles). CCR has toll revenues of about $1.1b or 40% of total toll concession revenues in Brazil based on some 1.5m toll transactions per day. 30% of the companies shares are regularly traded and 70% is split between three Brazilian business groups and by Brisa (18% of the shares).
CCR has said that it sees the most promising new tollroad markets as the S, Mexico and Chile.
Brisa
Brisa operates eleven tollroads with about 1,100km (685 miles) in Portugal collecting about $740m in tolls. It started as a concessionaire in 1972, was brought into public ownership by a marxist government in 1974, then privatized again in three public offerings 1997 to 2000.
Since it was privatized it has had to compete for concessions.
see
http://www.brisa.pt/Brisa/vEN/
http://www.ccrnet.com.br/ccrweb/home/index.cfm
The NWPPHA board decided Aug 29 2006 to seek a concessionaire.
The short list for the NW Parkway concession comprised
1. Abertis
2. Brisa Auto-Estrada de Portugal SA/Companhia de Concessoes Rodoviorias (CCR)
3. Cintra Concesiones de Infraestructuras de Transporte SA
4. FCC Construccion SA/Caja Madrid Group
5. Goldman Sachs Global Infrastructure Partners
6. Itinere Infrastructure Inc.
7. John Laing Infrastructure Ltd
8. The Macquarie Group
9. Morgan Stanley
10. Societe Generale
11. Transfield Service
No controversy
As in Virginia and Chicago a private concession on the Northwest Parkway in Colorado has been totally uncontroversial. However toll concessions are controversial in Texas, Indiana, New Jersey and Pennsylvania.
TOLLROADSnews 2007-04-11
The Northwest Parkway Public Highway Authority (NWPPHA) says the board voted to start negotiations with Brisa/CCR with a view to a concession contract closing by June 14. They said that any concession would retire all the authority's $416m in debt and transfer all financial risks to the concessionaire. Brisa Autostradas de Portugal SA is the privatized embodiment of Portugal's major government owned toll authority now traded on European stock exchanges.
NWPPHA a joint powers toll authority comprising the City and County of Broomfield, City of Lafayette, and Weld County said that they selected Brisa/CCR based on their "excellent history of toll operations in Europe" (nothing wrong with their history in Brazil either) and strong customer service.
NW Parkway which opened Nov 2003 is a 18km (11 mile) east-west portion of the incomplete belt route around the Denver area, the major portion of which is the E470 tollroad on the eastern side of the metro area. NW Parkway is a counterclockwise extension of E470 from I-25 west nearly to US36 in Broomfield. It is doing about 12k tolls/day, about a third below business plan.
CCH
Companhia de Concessoes Rodoviaras (CCR) in which Brisa has a large stake is a holding company based in Sao Paulo Brazil for six of the major toll concessions in Brazil totaling 1450km (902 miles). CCR has toll revenues of about $1.1b or 40% of total toll concession revenues in Brazil based on some 1.5m toll transactions per day. 30% of the companies shares are regularly traded and 70% is split between three Brazilian business groups and by Brisa (18% of the shares).
CCR has said that it sees the most promising new tollroad markets as the S, Mexico and Chile.
Brisa
Brisa operates eleven tollroads with about 1,100km (685 miles) in Portugal collecting about $740m in tolls. It started as a concessionaire in 1972, was brought into public ownership by a marxist government in 1974, then privatized again in three public offerings 1997 to 2000.Since it was privatized it has had to compete for concessions.
see
http://www.brisa.pt/Brisa/vEN/
http://www.ccrnet.com.br/ccrweb/home/index.cfm
The NWPPHA board decided Aug 29 2006 to seek a concessionaire.
The short list for the NW Parkway concession comprised
1. Abertis
2. Brisa Auto-Estrada de Portugal SA/Companhia de Concessoes Rodoviorias (CCR)
3. Cintra Concesiones de Infraestructuras de Transporte SA
4. FCC Construccion SA/Caja Madrid Group
5. Goldman Sachs Global Infrastructure Partners
6. Itinere Infrastructure Inc.
7. John Laing Infrastructure Ltd
8. The Macquarie Group
9. Morgan Stanley
10. Societe Generale
11. Transfield Service
No controversy
As in Virginia and Chicago a private concession on the Northwest Parkway in Colorado has been totally uncontroversial. However toll concessions are controversial in Texas, Indiana, New Jersey and Pennsylvania.
TOLLROADSnews 2007-04-11