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A Ferrovial-led consortium has been selected by the Georgia State Transportation Board (STB) to design, build and partly finance the I-285/Ga. 400 interchange P3 project, worth US$460 million, in metro Atlanta.
The consortium, which will rebuild the I-285/SR 400 interchange and upgrade the I-285 and SR 400, also includes Louis Berger Group and Neel-Shaffer.
The winning consortium submitted a $460 million bid that would lower the project's total originally projected $1.1 billion cost to $679 million, reported local newspapers.
The team beat out competition from three other shortlisted consortia:
The 16.5 km road project involves the construction of barrier-separated collector-distributor (CD) lanes along I-285 and SR 400, the reconstruction of existing ramps, new flyover bridges, as well as the reconstruction and widening of several existing bridges in the interchange area. It also includes two miles of improvements along SR 400. The project will facilitate east-west movement on I-285 and north-south movement on SR 400
The project will be financed with funds from federal, state and local (Perimeter CIDs) sources as well as private funding provided by the consortium.
Georgia's State Transportation Board voted recently to make available US$130 million in already authorized bond issued and US$81.5 million in collected state motor fuel tax revenue to fund the road project.
Construction is scheduled to begin in late 2016 or early 2017 and the project is expected to be operational by spring 2020. The project, which is part of the GDOT P3 program, aims to save travel time and reduce delays for all users by 20,000 hours per day.
We have recently reported on several road PPP projects in the USA: