Illinois to issue RFQ for Illiana Expressway
The Illinois Department of Transportation (IDOT) announced last Friday it will issue a Request for Qualifications (RFQ) on Friday, Nov. 8, seeking submission of qualifications by private industry partners to design, build, finance, maintain and operate the Illinois portion of the Illiana Corridor utilizing an Availability Payment structure.
Interested firms or project teams will be asked for a Statement of Qualifications that will be used to determine their eligibility in the upcoming Public Private Partnership (P3) process.
The Indiana portion of the project will be developed later under a separate P3 project with procurement by the Indiana Finance Authority and the Indiana Department of Transportation.
Private sector participation is being sought to spur innovation that will lead to delivery of the Illiana Expressway more quickly and efficiently, and at less cost.
To ensure coordination of the multi-state Illiana Corridor Project, IDOT and INDOT are working together to coordinate technical requirements, tolling policy, the federal environmental approval process, and construction schedules.
Following the release of the RFQ, IDOT will host an Outreach Event for Illinois Disadvantaged Business Enterprises (DBE) and other industry firms interested in bidding on work for the project. The event will be held December 4, 2013 at the Holiday Inn Hotel and Conference Center in Joliet.
In mid October, the Policy Committee of the Chicago Metro Agency for Planning (CMAP) gave final green light to the construction of the proposed Illiana Expressway.
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November 05, 2013
USDOT approves TIFIA loan for Tappan Zee bridge
Tappan Zee BridgeThe Tappan Zee Bridge replacement project was approved Thursday for a $1.6 billion Transportation Infrastructure Finance and Innovation Act (TIFIA) loan, a development that allows officials to finalize plans for toll increases that will pay for the $3.9 billion effort. Read more -
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Mitsui acquires stake in New York Power plant
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November 07, 2013
Maryland approves $2.2 billion light rail P3 project
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November 11, 2013
Maryland issues RFQ for $2.2 billion light rail P3 project
The state is applying for a $732 million TIFIA loan from the federal government. MDOT also plans to apply for Private Activity Bonds (PAB) funding for the project. A team of private companies would contribute $500 million to $900 million toward the Purple Line. Read more -
November 12, 2013
Kiewit and Macquarie close financing for Goethals Bridge
Port Authority Executive Director Pat Foye, said:"Reaching financial close is another significant milepost on our journey to completing the region's first true surface transportation public-private partnership in the northeast region. Governors Cuomo and Christie have tasked us with coming up with creative solutions to rebuild our critical infrastructure, and we believe this project will serve as an example for building major transportation infrastructure in the northeast while leveraging private capital and expertise."U.S. Transportation Secretary Anthony Foxx on November 5th announced a Transportation Infrastructure Finance Innovation Act (TIFIA) $474 million loan for the project. Additionally, the New Jersey Economic Development Authority on behalf of NYNJ Link has issued $457 million series 2013 tax-exempt private activity bonds (PABs). Fitch Ratings and Standard Poor's Ratings assigned a 'BBB-' rating to the borrower in both cases. Read more
