ACS consortium recommended for multi-billion rail PPP at LA airport
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A consortium led by ACS/HOCHTIEF has been chosen as the recommended developer for a large-scale modernization PPP rail project at Los Angeles International Airport. The consortium consists of ACS Infrastructure Development (Iridium), Dragados USA, HOCHTIEF PPP Solutions, Flatiron, Fluor, Balfour Beatty and Bombardier.
The public-private partnership (PPP) rail project includes planning, financing, construction and 25-year operation of an automated people mover located 15 to 20 meters above the ground which will have six stops connecting new parking facilities, hire car points and metro light rail stations with the airport's terminals. This will considerably improve passengers’ access to the terminals.
The consortium will deliver a track of around 3.6km in length, on which up to nine trains will be able to travel simultaneously. The construction cost is US$1.95 billon. It will also deliver 44 Bombardier APM vehicles.
Commercial close and financial close are targeted for April 2018 and June 2018, respectively. Construction is anticipated to be completed by early 2023.
As reported on this platform, the Los Angeles Board of Airport Commissioners first announced plans for the project in late 2015. An RFQ was issued in June 2016, followed by an RFP in August 2017. Technical bids, due in November, were submitted by three teams.
ACS Infrastructure Development and HOCHTIEF PPP Solutions each has an 18% stake in the consortium (ACS Group 36%).
The ACS Group is currently involved in several sizeable rail projects in North America including the new US$1.2 billion High Speed Rail link between Los Angeles and San Francisco (USA), the CA$5.5 billion (US$4.46 billion) Eglinton Crosstown LRT PPP and the CA$2.0 billion (US$1.62 billion) Confederation Line LRT PPP in Ontario and Ottawa (Canada) respectively.
The ACS Group also has a strong track-record in airports including the award last year to HOCHTIEF subsidiaries Flatiron and Turner of a project to expand Denver International Airport worth up to US$700 million.
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