Financial Close for US-36 PPP in two weeks

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Financial Close for US-36 PPP in two weeks

The Colorado Department of Transportation (CDOT) has announced that the US 36 Express Lanes/Bus Rapid Transit project will achieve financial close within two weeks.

According to Don Hunt, Colorado Department of Transportation Director, investors are lined up and bond buyers are ready to purchase the debt to finance the road-widening effort on U.S. 36 between Denver and Boulder.

On April 11, a team formed by The Plenary Group, Ames Construction, Inc., Granite ConstructionHDRTransfield Services and Goldman Sachs, won the US-36 Managed lanes toll concession project.

Plenary beat competition from US 36 Development Partners which included Isolux Infrastructure, Netherlands B.V., Kiewit Infrastructure Co.Atkins, Terracare Associates, Bank of Tokyo-Mitsubishi UFJ and THB Advisory.

The project will be developed on a design, build, finance, operation and maintenace (DBFOM) basis. The agreement will be structured as a toll concession and is expected to have a term of 50 years.

The Plenary-led team will construct six miles of existing US36 from 88th Street to Table Mesa and add a managed lane in each direction. The concessionaire will also be responsible for operations and maintenance of managed lanes in the complete US 36 corridor and the existing I-25 Express Lanes.

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