Virginia Transportation Board announces tougher rules for P3s

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Virginia Transportation Board announces tougher rules for P3s

The Virginia Commonwealth Transportation Board (USA) has adopted stricter rules governing the implementation and oversight of public private partnerships (P3s) in infrastructure projects.

These new rules include the creation of a steering panel of board members and key legislators to review proposed projects. According to the government, the new rules will increase transparency throughout the procurement process.

State lawmakers will have a word in the evaluation and selection of prospective projects. All legislators and the public will be notified of the preparation process of a project from beginning to end.

Projects receiving a single bid will be revaluated for a re-bid, postponed or built via a conventional contract, according to Virginia Commonwealth Transportation Secretary Aubrey Layne. If the scope of a project changes during the process, the selection process will be restarted.

Mr. Aubrey Layne stated:

"While a valuable tool to deliver certain projects, the P3 process had to be reformed to draw clear lines of accountability, strengthen competition, increase transparency and public engagement, and minimize the risk to taxpayers."

The new rules come after former the current government spent US$400 million on the Commonwealth Connector before the project broke ground. The project has still not received environmental clearance.

Share this news