This article is part of a daily series of MegaProjects articles. If you want to know more about PPP projects with a considerable size visit our MegaProjects section. You can receive them by email on a daily basis.
The Port Authority of New York and New Jersey has delayed the selection of a development team for La Guardia Airport Central Terminal Building Replacement PPP project until it awaits the outcome of a broader design competition for New York airports.
John Degnan, the authority's chairman, stated:
"We simply decided it would be prudent to see what the conceptual design is before proceeding with the process."
The request for qualification (RFQ) for the project was launched in November 2012. Later, in late July 2013, we reported that the authority announced the list of teams pre-qualified. The teams involved in the tender process are the following:
The Aerostar New York Holdings consortium, composed by Highstar Capital IV LP and its related funds and Aeropuerto de Cancun S.A. de C.V., was also pre-qualified, but it was disqualified in March last year.
According to sources, the bidders have agreed to wait until the end of April for a decision.
The project involves the participation with the Authority in the replacement and financing of the existing Central Terminal Building (CTB) at LaGuardia Airport including Frontage Roads, aprons, utilities, a central heating and refrigeration plant (CHRP) and other support facilities.
The project also involves the operation and maintenance of the existing CTB during the construction period, the management of the transition of airline and non-airline tenants to occupancy of the replacement CTB, the operation and maintenance of the CHRP, and the operation and maintenance of the new CTB for a specified term.
The project will be developed on a build, finance, operation and maintenance (DBFOM) basis.
The total project investment is estimated at US3.6 billion, but construction and financing costs could rise as time drags on.
The new facilities are expected to be operational by 2021.
During this month we have reported about several transport PPP projects in the USA: