In an important victory for the $5 billion Honolulu rail transit project, on December 27, 2012 the U.S. District Court in Hawaii issued a judgment allowing construction of the first three phases of the 20-mile Project to continue pending the completion of additional environmental analysis regarding the last construction phase the Project in downtown Honolulu. The Court’s judgment keeps in effect in Federal Transit Administration’s approval of the Project and the $1.5 billion Full Funding Grant Agreement for the Project recently executed by the FTA and the City. The Court’s ...
On December 27, 2012, the Indiana Finance Authority (IFA) achieved commercial close of the East End Crossing project in southern Indiana, part of the broader Louisville-Southern Indiana Ohio River Bridges Project. WVB East End Partners, LLC (WVB), is the private counterparty for the East End Crossing project under an availability payment concession, a first for Walsh and VINCI in an equity role in the US P3 market. The parties reached agreement and executed the public-private agreement before the end of the year as scheduled, capping an extraordinary procurement on an expedited ...
On December 19, 2012 the Federal Transit Administration executed a $1.5 billion Full Funding Grant Agreement for $ 5 billion, 20-mile, Honolulu rail transit project. The Project will serve the heavily congested corridor between the west side of O'ahu and downtown Honolulu. The Project will provide transit access to major employment centers, activity centers, and tourist destinations in Honolulu, including the Pearl Harbor Naval Base, Aloha Stadium, the Honolulu International Airport, Chinatown, the downtown business center, the Civic Center, the Port of Honolulu, and the Ala ...
The Utah Department of Transportation (UDOT) has announced the completion of the Utah County I-15 Corridor Expansion (I-15 CORE) project ahead of schedule and under budget. The 24-mile design-build project added two travel lanes on I-15 in each direction, rebuilt or replaced 63 bridges and 10 freeway interchanges and replaced the existing roadway from Lehi to Spanish Fork with 40-year concrete pavement without decreasing the number of lanes during the majority of construction.
As one of the State of Utah’s largest highway construction projects, the $1.1 billion design-build ...
On December 17, 2012, the Board of the New York State Thruway Authority (NYSTA) unanimously approved award of the design-build contract for the Tappan Zee bridge replacement project to Tappan Zee Constructors, LLC (a consortium of Fluor Enterprises, Inc., American Bridge Company, Granite Construction Northeast, Inc., and Traylor Bros., Inc.). New twin spans will replace the existing Governor Malcolm Wilson Tappan Zee Bridge, which is to be demolished and removed. The contract award requires additional State approvals before it becomes effective. Notice to proceed is expected ...
On December 13, 2012, the Texas Transportation Commission conditionally awarded the design-build and capital maintenance agreements for the IH 35E Managed Lanes Project to AGL Constructors, a joint venture comprised of Archer Western Contractors, LLC, Granite Construction Company and The LANE Construction Company. AGL Constructors was one of four teams the Texas Department of Transportation shortlisted for the project earlier this year. The other proposer teams included:
- Dallas to Denton Constructors, a joint venture comprised of Zachry Construction Corporation and ...
The 20th annual conference of The Canadian Council of Public-Private Partnerships (CCPPP) was held in Toronto on November 26-27, 2012. Drawing industry leaders from within and outside of Canada, the conference this year reflected the maturity of the Canadian market and the interest of P3 players looking beyond its borders for future opportunities, particularly participating in the growing U.S. P3 market.
One of the keynote speakers was Michigan Governor Rick Snyder, who championed the proposed $3.5 billion Detroit-Windsor bridge and expressed appreciation for Canada’s ...
On November 29, 2012, financial closing was achieved on a 30 year concession relating to the water and wastewater facilities of the City of Rialto, California. The agreement, which had been executed in March 2012, is among Rialto Water Services, LLC, the single purpose vehicle set up by Table Rock Capital as the project sponsor, the City of Rialto and the Rialto Utility Authority.
The approximately $175 million transaction is being bond financed through a private placement and an approximately $26 million equity contribution. The concession agreement provides for approximately ...
On November 16, 2012, the Indiana Finance Authority (IFA) selected WVB East End Partners (WVB) as the Preferred Proposer for IFA’s East End Crossing project in southern Indiana. WVB East End Partners is a joint venture consortium of Walsh Investors, LLC, VINCI Concessions S.A.S. and Bilfinger Berger PI International Holding GmbH, partnering with Walsh Construction Company and VINCI Construction Grand Projets as the builders, with Jacobs Engineering Group, Inc. as the designer, and with others. VINCI Concessions S.A.S. will be performing the operations and maintenance of the ...
On November 16, 2012, the board of the Indiana Finance Authority (IFA), with Governor Daniels in attendance, based on the recommendation of Kendra York, IFA’s Public Finance Director, approved the preliminary selection of WVB East End Partners as the preferred proposer for the East End Crossing project, Indiana’s second foray into public-private partnerships as a solution to infrastructure planning for the State. The East End Crossing is Indiana’s part of the Louisville-Southern Indiana Ohio River Bridges Project (the ORB Project). WVB East End Partners is a joint ...
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