Louisiana cancels P3 plan for Belle Chasse Bridge and Tunnel Replacement Project
The Council in the State of Louisiana has formally rejected local tolls or new tax components for the Belle Chasse Bridge and Tunnel Replacement PPP Project.
The council has voted 7-1-1 favoring the resolution of opposing the state Department of Transportation & Development’s proposed public-private partnership (P3) with Plenary Infrastructure with one against and one abstention.
Under the proposed P3 deal, Plenary Infrastructure, the project developer, would charge US$0.45 per trip initially, with US$0.01 added per year for up to 30 years. Prices would have been higher for non-residents and commercial trucks.
The project received the federal grant of USD 45 million with th assumption it will be implemented as a PPP. The contracting auhority will now see if the grant can still be awarded with the toll element rejected.
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