Pre-development agreement signed for Sepulveda Transit Corridor PPP in USA
The Los Angeles County Metropolitan Transportation Authority has entered into an agreement with the consortium LA SkyRail Express (LASRE) to pre-develop a mass transit solution for the megaproject, Sepulveda Transit Corridor in Los Angeles, California.
The agreement signing is the result of a 20-month long tender process, during which the LARSE consortium was selected as a winner. The team consists of John Laing as a lead equity sponsor, Skanska, BYD Transit Solutions LLC, HDR Engineering, Inc., Alternate Concepts, Inc., M. Arthur Gensler Jr. & Associates, Inc, and Innova Transportation LLC. The authority will decide, if the project may be delivered as an availability-based PPP based on the pre-development.
Worth US$9.5 billion, the Sepulveda Transit Corridor project involves the development of a transit line, that would provide a new travel option in the 405 freeway corridor through the Sepulveda Pass, connecting the San Fernando Valley, the Westside, and the Los Angeles International Airport (LAX). The aim is to reduce the significant congestion on the transit corridor, which is daily used by 400,000 people.
Country updates
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