concession

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.

Georgia DOT are close to formally calling for proposals for toll or 'managed lanes' in the I-75/I-575 corridors northwest of downtown Atlanta. Their quiet procurement of a toll concessionaire has already selected three groups as qualified to make proposals. They are some of the biggest international groups in the toll concession business:

Four stalled toll projects in Virginia will share in $1,500m in state funding, according to Virginia secretary of transportation, Sean T Connaughton. This is close to 40% of the $3,861m announced for highway projects by the new Virginia Governor Bob McDonnell as his Transportation Agenda Jan 14. According to Connaughton the four projects to share the $1500m of state funding are: