In a vote that came as a surprise to many, at its March 28 meeting the Texas Transportation Commission approved the creation of a new public transportation corporation, which could eventually take over as the public operator of the SH288 Express Lanes project near Houston. The resolution is the first step in what will likely be a monthslong negotiation process between the TXDoT and the Blueridge Transportation Group, which is the private partner for the 50-year DBFOM concession that delivered the SH288 project.
In this case, however, the potential early termination of the P3 concession does not appear to be due to a problem with the project – quite the opposite in fact. Texas State Senator Robert Nichols, who chairs the Senate transportation committee, reportedly told commissioners that revenues on the project “are shooting through the roof” and a spokesperson for TXDoT confirmed with the Houston Chronicle that the termination was being considered “from an economic value perspective.”
