Florida DOT is giving bidders for the Alligator Alley (I-75) toll concession an extra ten days. Bidders have told FDOT they need more time beyond the latest May 8 bid deadline in order to put borrowings in place.
New deadline for bids is May 18.
Legislation is moving through the Texas legislature to virtually preclude further private tollroad development in the state. SB17 sponsored by state senator Robert Nichols (Republican) builds on SB792 the 'moratorium' bill of 2007 and is even more hostile to private toll concessions.
Despite the forbidding financial climate some big projects seem to be going to financial close, though others are delayed. Florida's 595 Express successfully closed March 3, with simultaneous signings of nearly $800m of bank loans and $200m in equity in New York City, some $700m of TIFIA loans in Washington DC, and contract document signings at District 4 FDOT offices in Ft Lauderdale.
TxDOT has announced that a Cintra/Meridiam/Dallas police/fireman's pension system team are the preferred investors in a 52 year toll concession to finance, build, operate and toll "The New LBJ" or I-635 Managed Lanes Project, an expansion to 14 travel lanes from 8 of the major east-west expressway across the northern part of Dallas.Operating under the pro
Virginia's transportation commissioner Pierce Homer told us in a telephone interview he's very hopeful that the HOT lanes project on I-395 and I-95 from the Pentagon south toward Fredericksburg will prove viable, but he says it's not a sure thing.
Texas DOT is signing a toll concession with an international group led by Cintra to do about $1.6 billion worth of work rebuild some 20km (13 miles) of old freeway into frontage, free and toll lanes and get planning work and rights to negotiate up to several billion dollars more of the North Tarrant Express project. TxDOT got bids from the Cintra-led Group called NTE Mobility Partners (NTEMP) and from Spain based OHL.
A new Detroit Windsor toll bridge has got its final permits from the US Government, marking a further important step toward improving connectivity in the most important US-Canadian trade route. The new bridge planned about two miles (3.2km) downstream of the Ambassador Bridge including some 15km (9 miles) of road would provide a high quality direct connection between I-75 in Michigan and H401 in Ontario.
Three groups have expressed interest in public private partnerships (P3s) with the Pennsylvania Turnpike Commission over two projects on the Southern Beltway and the northern portion of the Mon Fayette Expressway. The groups are:
1. MVP3 (Mon Valley Public Private Partners)
- HDR Inc./Kimball Corp./Gannett Fleming Inc./Figg Engineering Group, design
The global financial crisis has prompted the postponement of the bid deadline for a toll concession to operate Alligator Alley (I-75) across southern Florida. Florida DOT, the concession grantor says the new deadline is May 8. Previously bids were due Jan 9.
A statement by FDOT says that the global financial uncertainty adversely affected the ability of potential bidders to move forward at this time. Potential bidders had asked for the delay.
The $950m Port of Miami Tunnel project has collapsed because the chosen concessionaire Babcock & Brown can't raise the capital to close on the deal. Florida DOT's Miami district secretary Gus Pego is quoted in a stratement as saying the private partners "have been overwhelmed by the effects of the financial market (crisis) making delivery (of the tunnel project) unworkable."