Archive for May, 2008
VDOT Announces $1B Midtown Tunnel PPP
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The Virginia DOT has issued a request for conceptual proposals, with responses due September 29, for approximately $1 billion of improvements to Hampton Roads’ Midtown Tunnel and neighboring facilities. The existing two-lane tunnel crosses under the Elizabeth River to connect Norfolk and Portsmouth, respectively the second and eighth most populous cities in Virginia, and [...]
Virginia Floats Tunnel-Concession Idea
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In the wake of an eleven-figure offer for leasing the Pennsylvania Turnpike, Virginia politicians have suggested considering a long-term lease of the I-64 Hampton Roads Bridge-Tunnel. The four-lane link, comprising separate two-lane tunnels built in 1957 and 1976, connects the cities of Hampton and Norfolk and is among the region’s most congested chokepoints. A lease [...]
Pennsylvania Turnpike Lease Garners $12.8 Billion
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On Monday, May 19th, Pennsylvania Governor Ed Rendell announced the team of Abertis / Citi had outbid Transurban / Goldman Sachs, who bid $12.1 Billion for the rights to operate the Pennsylvania Turnpike. For the 75-year lease to become a reality, Pennsylvania lawmakers must pass legislation to enable the deal. Governor Rendell was very optimistic, [...]
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