concessions

Macquarie, a major Australian investment bank, has suffered a major loss of capitalization in the recent weeks, and is retrenching to preserve liquidity. They have announced the sale of their concession on a major bridge in Lisbon Portugal.

TOLLROADSnews 2008-09-30

China Infrastructure Investment Corporation one of hundreds of investor-owned toll road companies in China is different in that it is now traded on the NASDAQ in New York (trading symbol CIIC). Incorporated in Nevada, it is headquartered in Henan province in China.
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A report commissioned by the Democratic Caucus of the state House slams Governor Rendell's proposed longterm lease/concession for the Pennsylvania Turnpike, claiming that a corporate concession will have a present value of only $14.8 billion vs the Turnpike Commission (PTC) under Act 44 being worth $22.8b to $26.5b at present value. (CORRECTION HERE 2008-03-04 12:30 We initially misread the report. 741 words  read more »

Beijing's Xinhua news agency reports attempts by the central government of China to assert control over provincial government initiatives in building tollroads. 881 words  read more »

Penn Pike chief Joe Brimmeier is saying the Turnpike Commission is planning to issue Requests for Proposals shortly for toll concessions to build elevated toll express lanes on:

- (1) the Parkway East (I-376) east of Pittsburgh

- (2) the Schuykill Expressway (I-76) northwest of Philadelphia (pronounced 'skookull' with appropriate Dutch/Philly gutterals. REVISED) 1315 words  read more »

In the wake of the Federal Transit Administration's 'No' to Virginia's request for federal funding for construction of the $5b Dulles Rail project, state officials are rethinking their plan to have the area's Airports Authority take over the Dulles Toll Road. This could open the way for resumption of the private sector concessioning that was interrupted by the MWAA intervention in 2006.
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Texas DOT Turnpike division chief Phil Russell says that the Trans Texas Corridor 69 (TTC69) will offer opportunities for both public authority style tolling and private lease concessions. He says the decision announced last week to look first at upgrading existing routes is "no different" from the approach taken on TTC35. The difference of the second TTC, he says, is only in the nature of development along the route.
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CNN anchor Lou Dobbs and reporter Lisa Sylvester were at it again last night (Oct 8) beating up on toll concessions, this time the Virginia DOT's negotiations with Transurban and Fluor for building toll lanes on the Capital Beltway.

A transcript follows with comments interposed (PSam for Peter Samuel):
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Florida DOT have provided us with some more detail on their assessment of the value of three possible toll facilities to be put out for bid by investors. We've got "Possible leases of existing toll facilities" a five page screed dated 2007-09-05. It says the Sunshine Skyway Toll Bridge in Tampa, Alligator Alley Naples to Ft Lauderdale, and Beachline East expressway are "most likely candidates for consideration."
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Florida Gov Charlie Crist is seriously considering longterm toll concessions, the Orlando Sentinel reports, on three Florida DOT properties bringing in between $1.12b and $2.92b. The three being considered are:

- Beachline Expressway FL527 which runs as a "bee line" between Orlando and the Atlantic coast (it was formerly called the Bee Line Expressway)
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Texas law on tollroads has become as incomprehensible as the US income tax. Or US immigration law. You can devote hours to reading it, and employ professionals to interpret it, but you'll still get conflicting interpretations, the thing is such a mess of conflicting provisions, of prohibitions and exceptions, of elusive definitions, and so stuffed full of verbal padding that it tires the most indefatigable.
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