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Riverside County, in the U.S. state of California, has issued a Request for Proposals (RFP) to develop the nation’s largest broadband network, a project that would stimulate economic growth and make high-speed networks available to all residents and businesses countywide.
The RIVCOconnect Broadband Initiative is a US$2 billion to US$4 billion public-private partnership with the goal of building a gigabit fiber network. This project marks the first time in the nation that a regional public/private partnership has worked to deploy fiber optic infrastructure on such a large scale in partnership with multiple local governments.
The project does not rely on taxpayer dollars and the county and its cities are not seeking to own or operate this fiber network. Rather, RIVCOconnect is designed to facilitate the private sector’s deployment of a fiber network. It will interest network providers because, over time, they already will need to build fiber infrastructure themselves to reach and serve customers. The public/private partnership is attractive because a network of municipal partners could make construction and deployment far less expensive.
In the RFP, the county is seeking participants interested in building the gigabit network. Responses are due August 15 and a telecommunications partner or partners will be selected in the fall to build out the gigabit fiber network.
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The county’s 7,200 square miles contain nearly one million homes, apartments, businesses, and institutions that need high-speed internet access.
Collaborating local jurisdictions – the county, its 28 cities, and participating tribal nations – have adopted a common resolution to support the effort. Each partner has agreed to streamline and expedite often cumbersome permitting processes. Among the ideas are “dig-once” policies that allow fiber conduits to be installed whenever a roadway is opened for construction, and coordinating activities countywide through a single point of contact. Those ideas and others could help eliminate hurdles that could amount to as much as 30 percent of construction costs, potentially saving hundreds of millions of dollars on such a project.
GMéxico Transportes S.A. de C.V. (GMXT), the transportation business unit of Grupo México, and the Florida East Coast Railway Holdings Corp (FEC) have announced that they have entered into an agreement under which GMXT will acquire FEC in an all cash transaction. The acquisition is expected to close subject to satisfaction of closing conditions including the receipt of applicable government approvals.
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Fengate Real Asset Investments has announced the close of the LPF Equities Fund, the firm’s new private equity fund with CAD300 million (US$224 million) in committed capital, and its initial investment in the Cricket Energy Group of Companies.
Read moreThe Virginia Department of Transportation (VDOT), in coordination with the Hampton Roads Transportation Accountability Commission (HRTAC), has issued a Request for Information (RFI) to solicit private-sector interest in and feedback on a potential opportunity to deliver the proposed I-64 Hampton Roads Bridge-Tunnel Expansion Project.
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