Cintra & Macquarie to sell Chicago Skyway
Spanish firm Cintra and Australia's Macquarie have announced plans to sell their concession for the Chicago Skyway Bridge in the United States.
The Chicago Skyway Bridge is a 12.55 km toll road built in 1958 to connect the Dan Ryan Expressway to the Indiana Toll Road. 36% of the Skyway's structures are overpasses, the majority of which are located over the Calumet River. Some 50,000 vehicles use the highway daily.
Cintra has a 55 % stake in the concession while Macquarie holds the remaining 45 %.
In January 2005, the Skyway Concession Company, LLC (SCC) assumed operations on the Skyway with a 99-year operating lease that gave the City of Chicago a US$1.83 billion cash infusion. SCC is responsible for all operating and maintenance costs of the Skyway and has the right to all toll and concession revenue. This agreement between SCC and the City of Chicago was the first privatization of an existing toll road anywhere in the United States.
According to Ferrovial, the Chicago Skyway Bridge had revenues of €62 million (US$68.8 million) and an operating income of €54 million (US$59.9 million) in 2014.
Country news
-
-
July 01, 2015
Maryland say YES to purple line P3 project
Governor Larry Hogan has announced that the State of Maryland, USA, will move forward with the Light Rail (Purple Line) P3 project. Read more -
July 06, 2015
McAuliffe administration reaches an agreement to get $46 M back from US 460 Mobility Partners
Under the terms of the agreement, US 460 Mobility Partners will return US$46 million in already-spent funds back to taxpayers and cancel an additional US$103 million claim which the company had filed under the contract. The total US$149 million swing is the result of months of negotiations between the McAuliffe administration and the company. Read more -
July 07, 2015
Illinois Teachers backs Goldman Sachs' third infrastructure fund
Illinois Teachers' Retirement System has invested US$150 million in Goldman Sachs Infrastructure Partners' West Street Infrastructure Partners Fund III. Read more -
July 07, 2015
Five teams present ideas to redevelop old Charity Hospital in New Orleans
The government of New Orleans has received five responses to its call for "creative and innovative redevelopment ideas" to redevelop the old Charity Hospital building. Read more -
July 07, 2015
Ferrovial consortium's bid chosen for Toowoomba toll road project in Queensland
The consortium is composed of Cintra Infraestructuras, Ferrovial Agroman, Plenary Group, Acciona Infrastructure Australia, Samsung C&T Corporation, Acciona Concesiones, and Transfield Services (Australia). The team beat out competition from two other shortlisted consortia: Range Connect and RangeLink. Read more
