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Will TxDOT's latest road PPP slate pick up speed?
03 October 2011
Project Finance gathered in August with seven representatives of TxDOT, sponsors and banks to discuss the department’s ability to procure 11 toll road PPPs. Whether this slate will succeed is still a question.
Edward Russell reports from Austin.
The Texas Department of Transportation (TxDOT) has relaunched its toll road public-private partnership programme. It released requests for information for the more than $900 million Grand Parkway and $3.86 billion I-35E managed lanes project in June and requests for qualifications (RFQs), though delayed, are expected either this month or in October. Despite this progress, rebuilding its reputation will take time.
State senate bills 1420 and 19 give the grantor legislative authority to procure 11 projects as PPPs. TxDOT’s definition of PPP includes everything from design-build (DB) contracts to toll concessions and availability-based design-build-finance-operate-maintain (DBFOM) concessions. The legislation, which passed in June, stipulates that all environmental approvals be completed by 31 August 2013 and tender processes begun by 31 August 2015. The state legislature halted the state’s previous PPP programme in 2007.
SB 19 is arguably the more important piece of legislation. It stipulates that local authorities have first right of...
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