Ohio Gov. John Kasich and Kentucky Gov. Steve Beshear have announced plans to use a public private partnership (P3) to develop the Brent Spence Bridge replacement and refurbishment project.
According to sources, the two states' transportation agencies are working together to develop a viable financial plan by the end of 2015.
The Brent Spence Bridge is a double decker, cantilevered truss bridge that carries Interstates 71 and 75 across the Ohio River between Covington, Kentucky and Cincinnati, Ohio. More than 170,000 vehicles cross the bridge each day. The structure is considered functionally obsolete in part because of a lack of a shoulder and smaller than standard lanes.
The project is expected to be developed on a design, build, finance and operation (DBFO) basis.
The total project investment is estimated at US$2.6 billion.
The project is a priority of the Kentucky Transportation Cabinet (KYTC) and state government officials expected to launch the RFQ in 2014, but the process is delayed. According to Steve Beshear, the cost of the project rises US$7 million for every month the project is delayed
In March 2014 we reported that a bill to allow P3s in Kentucky and necessary to develop the project had cleared its first legislative hurdle.
In April 2013, twenty three companies, or teams of companies, responded to an Ohio Department of Transportation inquiry designed to gauge private-sector interest in the project.