MegaProject 542: Virginia issues RFQ for I-66 P3 project
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The Virginia Department of Transportation (VDOT) has launched a request for qualification (RFQ) for the Interstate 66 (I-66) project outside Virginia city's beltway.
This RFQ consists of two parts:
- The first part solicits statements of qualifications for three delivery methods: design, build, finance, operate and maintain (DBFOM), design, build, operate and maintain (DBOM), and design build, incorporating Alternative Technical Concepts (ATCs) in the design builder's proposal (DB-ATC).
- The second part solicits conceptual financial proposals for each delivery method.
Proposers determined to be qualified by the VDOT in response to part one will be short-listed and invited to submit conceptual financial proposals. VDOT would qualify three of them for each delivery method.
DBFOM proposers will submit sources and uses of public contribution and private financing, along with a preliminary cash flow model. DBOM proposers will submit an indicative price for capital costs, an indicative price for O&M, and a preliminary cash flow model. DB-ATC proposers will submit an indicative price for capital costs.
A final decision on how the I-66 project will be financed is expected by end of this year. Then VDOT will launch a request for proposals (RFP) for the shortlisted teams of that method.
The project would involve the construction of high occupancy/toll lanes and associated facilities and services along the the Interstate 66 corridor between U.S. Route 15 in Prince William County and Interstate 495 in Fairfax County.
The concession contract would not exceed 40 years and 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 project has the following objectives: improving multimodal mobility along the I-66 corridor by providing diverse travel choices through an efficient network of P&R, HOV, transit, and express lane opportunities in a cost-effective and timely manner; enhancing person-throughput capacity; and enhancing corridor wide transportation safety and travel reliability.
Interested parties must submit their statements of qualifications on or before 1 October 2015 for the first part.
Throughout this month we have reported on several PPP projects in the USA: