concession

James Bass, chief financial officer of Texas Department of Transportation (TxDOT) says we erred in attributing a two-page critique of the North Texas Tollway Authority (NTTA) to KPMG/Goldman Sachs. He says it was written by TxDOT Dallas staff. TxDOT asked both KPMG and Goldman Sachs to review it and comment.

But he says this became moot once NTTA released their executive summary of their proposal.

Here is the email, we received:

A KPMG/Goldman Sachs analysis of the North Texas Toll Authority (NTTA) and Cintra proposals for a toll concession on SH121 says NTTA have used an unrealistically low discount rate on future revenues - giving only the appearance of a superior bid. They say unless NTTA were able to increase toll rates more than the the Dallas Regional Transportation Council (RTC) limits in force on the TxDOT-selected Cintra proposal, the public toll authority could be bankrupted.

The Federal Highway Administration (FHWA) is warning that Texas may be in breach of federal laws requiring fair and open competition if the North Texas Tollway Authority (NTTA) is allowed to belatedly intervene in the procurement for a toll concession on SH121. This may result in withholding of federal funds and the end of expedited permitting, the letter says.

NTTA's bid was announced today.

North Texas Tollway Authority (NTTA) are getting into the concession business. They say they can improve substantially on Cintra's proposal for SH121 north of Dallas in Denton and Collin counties. Today they put out a press release, an executive summary and a powerpoint on their bid for SH121 - the first time in the US that a public toll authority has made a bid in competition with investor groups for a toll concession.

New Jersey Governor Jon Corzine is recovering more quickly than doctors expected from the serious injuries he received on the Garden State Parkway April 12. He expects to retake the governorship Monday from the state senate president who has been acting governor.

The future of the New Jersey Turnpike Authority is the major item on the Governor's agenda, and his treasury secretary has said he will have detailed proposals before the end of the month.

The Pennsylvania Turnpike Commission has established a front organization to add some grassroots flavor to its campaign against Governor Rendell's planned call for proposals for a private toll concession. Letters are going all over Pennsylvania under the letterhead of PennDrive, a socalled "PA Coalition for Sound Transportation Policy."

Virginia DOT has scheduled a day-long affair Apr 24 on concession opportunities in the Midtown Tunnel project in Norfolk. The project encompasses tolls on the Downtown Tunnel closeby, as well as on the Midtown Tunnel which is to be twinned and on an extension of the Martin Luther Freeway.

The project ties together and improves capacity in the heart of the Norfolk-Plymouth port and downtown area in the center of the Hampton Roads region.

State transport commissioner Kris Kolluri said today that the car crash injuries to Gov Jon Corzine will delay presentation of the report on private concessions for the states tollroads.

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.

Ireland's National Roads Authority has awarded a $147m (E113m@$1.3) contract to a Sanef(80%)-CS(20%) subsidiary BetEire to install and operate 2x3 lanes of no-cash highway speed electronic tolling on the M50 beltway around Dublin.