concession

The board of directors of Maryland Transportation Authority (MdTA) operator of the I-95 Kennedy Highway Toll Road has approved signing of a 35 year concession on its two service plazas. The selected concessionaire Areas USA is a local subsidiary of a large established international company Grupo Areas SA head-officed in Barcelona Spain with major food concessions in 70 airports and 160 other toll and travel service plazas mostly in Europe and Latin America.

S1230 "Protecting Taxpayers in Transportation Asset Transfers Act" is being pushed by Democrats in the US Senate. It's a bill that seems likely to seriously handicap any state efforts to concession out government owned tollroads. It would give the US SEcretary of Transportation broad powers to approve or disallow any state or local road concession where there some US Government funding in its past.

Georgia generated shock waves in infrastructure investment circles with an announcement  last night that it was canceling the managed or toll lanes procurement for GA/I-75 and I-575 to the northwest of Atlanta. The project had seemed to be well past the point of no return.

Virginia governor Bob McDonnell this week announced big progress on two major toll concessions: $1.7 billion of investment by Macquarie and Skanska to enhance three key tunnels under the estuarial Elizabeth River in Norfolk under a 58 year toll concession, and $843m in a 73 year toll concession deal with Transurban and Fluor to develop 29 miles,46km of toll express/bus lanes on I-95 in northern Virginia. 

Missouri department of transportation (MoDOT) is pushing the state legislature to support their move to get 200 miles, 320km of MO/I-70 rebuilt and widened with a longterm toll concession or public private partnership (P3).

KPMG the large Swiss-based international accounting and management consulting firm has been selected by the Ohio state DOT to conduct a study of alternatives to the state turnpike commission for operation of the Ohio Turnpike.

Ohio state officials have released the short list from which they'll choose their prime consultant for the concessioning of the Ohio Turnpike. The five are:

- Citigroup Global Markets

- KPMG Corporate Finance

- Macquarie Capital Advisers

- Morgan Stanley

- Public Financial Management

TOLLROADSnews 2011-09-25

The Puerto Rico government and a Goldman Sachs/Abertis joint venture called Metropistas have closed on a 40 year toll concession project for PR22 and PR5. The tollroads which currently generate about $90m/year will be expanded and modernized by the venture which has paid the state an upfront fee of $1,136m.

Ohio governor John Kasich is moving ahead with plans to lease the state Turnpike under a longterm toll concession contract. Enabling legislation passed as part of a budget House Bill 153 just ahead of the July 4 holiday. The legislation gives the state Director of Budget and Management primary responsibility for the procurement of a private concessionaire to take over control of the Turnpike from the present politically appointed Ohio Turnpike Commission.

A Goldman Sachs, Abertis joint venture has been chosen with a bid of $1.08 billion by the state government of Puerto Rico as the preferred operator to run the PR22/PR5 toll road combo under a 40 year concesssion. New York based Goldman Sachs Infrastructure Partners II (GS) will have 55% equity and Barcelona Spain based Abertis 45%. Abertis will be the operator.