Virginia's I-66 project may be a P3
The Virginia Department of Transportation (VDOT) is mulling a public private partnership (P3) for the Interstate 66 (I-66) project outside Virginia city's beltway.
At a Commonwealth Transportation Board meeting, VDOT commissioned Charles Kilpatrick announced that he plans to sign an an interim finding that a P3 may be in the public interest.
In addition Aubrey Layne, the state transportation commissioner, said that he welcomed the potential for a private partner for the project, but said the government keeps open the option of a publicly financed project.
The project would involves the construction of two HOT lanes and three regular lanes in each direction. The concession contract would not exceed 40 years.
The total project investment is estimated at US$2.1 billion. VDOT expects that the public contribution will be about US$600 million, which would be provided during the construction period.
The contract is expected to be awarded by 2016 and construction works could begin in 2017, with completion approximately five years later.
Country news
-
-
July 22, 2015
Proposals sought for Rahway Valley wastewater treatment plant under P3
The Rahway Valley Sewerage Authority (RVSA) has launched a request for proposals (RFP) for the Rahway Valley wastewater treatment plant P3 project in USA. Read more -
July 23, 2015
Global partnership to mobilize $100 billion in private financing for infra
A Sustainable Development Investment Partnership (SDIP) has been launched to mobilize US$100 billion in private financing over five years for infrastructure projects in developing countries using development assistance to reduce risk. Read more -
July 28, 2015
ArcLight's sixth energy fund raises more than $5bn
ArcLight Capital Partners, an US private equity and venture capital firm, has disclosed that its Energy Partners Fund VI has surpassed US$5 billion in sales. Read more -
August 04, 2015
Stonepeak Infrastructure Partners invests in wireless connectivity company
Digital Bridge Holdings and Stonepeak Infrastructure Partners have committed or arranged for over US$1 billion in a recapitalization of the US firm ExteNet Systems. Read more -
August 06, 2015
Rubicon advises Texas Central Partners on $75 million private placement
Rubicon Infrastructure Advisors has announced it is the exclusive strategic and financial advisor to Texas Central Partners, LLC and is assisting TexasCentral in its efforts to reach a closing of long-term debt and equity financing for the project. Read more
