Proposal to replace Louisiana’s Calcasieu Bridge voted down

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

The Legislature's Joint Transportation, Highways and Public Works Committee has voted against a proposal to procure the Interstate 10 Calcasieu River Bridge replacement via a public-private partnership (PPP) in Louisiana, USA.

The decision comes in response to concerns expressed by local representatives, residents, and the Government regarding the replacement of the 71-year-old bridge. The proposed new bridge would involve tolling motorists for a period of 50 years to contribute to its funding. This leaves the state with two alternatives for addressing the aging structure:

  • a design-bid-build pay-as-you-go approach, extending beyond 2060, or
  • a state-owned toll option that could result in the completion of a new bridge around 2039.

Officials from the Department of Transportation and Development (DOTD) have suggested that a rehabilitation investment of approximately US$200 million to US$300 million could potentially extend the bridge's lifespan by two to three decades. The project has secured approximately US$800 million in public funds, including US$150 million from a federal mega grant, US$150 million from American Rescue Plan funds, US$240 million from the state's vehicle sales tax, US$85 million in state general obligation bonds, US$75 million from the federal Highway Priority Program, and US$100 million from the state's General Fund.

List of the country updates

Country updates

  • November 09, 2023

    ADIA Acquires 40% Stake in Landmark Dividend

    DigitalBridge Group, Inc. announced that a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will acquire a 40% stake in Landmark Dividend LLC. Landmark Dividend LLC, a company spe...

    Read more
  • November 08, 2023

    Final closing announced for KKR Global Impact Fund II (GIF II)

    KKR announced the final closing of KKR Global Impact Fund II (GIF II). KKR Global Impact Fund II (GIF II) is a substantial US$2.8 billion fund specifically dedicated to investing in companies whose p...

    Read more
  • November 03, 2023

    Final close announced for Ares Pathfinder Fund II

    Ares Management Corporation announced the final closing of Ares Pathfinder Fund II. The Fund received overwhelming demand and reached its maximum limit, surpassing the initial target of US$5 billion....

    Read more
  • November 02, 2023

    US$53 billion deal announced to buy Hess Corp by Chevron

    Chevron has agreed to buy Hess for US$53 billion in stock to gain a bigger U.S. oil footprint and a stake in rival Exxon Mobil. Chevron's recent deal and Exxon's US$60 billion acquisition announced e...

    Read more
  • October 31, 2023

    Final close announced for Allianz Global Diversified Infrastructure Equity Fund II

    Allianz Global Investors (AllianzGI) announced the final close of the Allianz Global Diversified Infrastructure Equity Fund II (AGDIEF II), which was held at EUR 1 billion (USD1.05 billion). Managed...

    Read more

Share this update