concession

David Alvarez head of the new Puerto Rico Public Private Partnerships Authority (PPPA) says they're excited to have tollroads in their first privatization.

His staff are looking at privatization of the Ohio Turnpike, says incoming state governor John Kasich. But capital markets at this time may not support a good deal for the state, he's saying in answer to reporters' questions. "Everything is on the table," he said this week.

In a second go-around at doing a toll concession to build a US460 toll expressway Petersberg to Suffolk, Virginia DOT has received three "conceptual proposals." They made this announcement today but have not yet released the proposals or characterized them.

They say today the proposals are from:

A private concessionaire is almost certain to be sought now for a new bridge over the Delaware River at Scudder Falls a few miles upriver of Trenton NJ. The river is the boundary between Pennsylvania and New Jersey.

The TX/I-635 LBJ Freeway toll lanes has gone to financial close, so - at last - construction can begin. Good news that a very large project, not without its risks, can still be financed in today's economy. It is the first major private sector road financing this year. Construction is due to begin early 2011 for completion by 2016.

A group of local businessmen, engineers and roadbuilders in Oregon are developing an approximate 20km (12 mile) $350m to $400m tollroad project designed to improve connections between Portland and the coast. Called the Coastal Parkway the project would provide a high quality connection between I-5 and the 99W or Southwest Pacific Highway near Dayton. They hope to get a toll concession from the state under its Public Private Partnerships law of 2009.

South Bay Expressway (SBE) company filed for a reorganization in Chapter 11 US bankruptcy this week, writing off around $200m in shareholder equity. The equity held by Macquarie Atlas Roads in Australia and previously Macquarie Infrastructure Group had been heavily written down since the pike opened in November 2007 and was valued at zero ($0.00) in the financial reports from June 2009 onward.

Michigan DOT say they expect to have a law in place for a P3 concession to build a new international toll bridge over the Detroit River before the end of the year. HB4961 is the bill. The Canadians already have the legal framework for a toll concession.

Michigan DOT envisage a "partnership" with Transport Canada, the national DOT with defined roles for other stakeholders such as FHWA, Ministry Transportation Ontario and border services agencies.

The Illiana Expressway is being pushed in the Indiana legislature as private toll concession. Bills are moving in the Indiana state legislature to allow the expressway to proceed as a toll concession. The state senate bill SB382 has been approved by the transportation committee. A similar house bill HB1312 has yet to be voted.

Regardless of party, state governors are opposing moves in the US Congress to second guess their arrangements for privatization of roads, toll concessions, or public private partnerships.