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Brightline’s Miami-to-Orlando Extension Starts Operations

Brightline, the privately owned operator of high-speed rail technology in Florida, celebrated the inauguration of its Miami-to-Orlando service on September 22. The opening of the $6 billion project symbolized a new era of travel connectivity and convenience in the highly trafficked region. “This is an historic day for Brightline and the team that worked diligently […]

Fitch Updates LAX APM Senior Debt Rating – Outlook Negative

$1.2 billion in senior lien revenue bonds for Los Angeles Airport’s $6 billion LINXS project were moved from rating watch negative to rating outlook negative by Fitch in September. The project, also known as the LAX Automated People Mover, is expected to be completed in late 2024, and will connect the airport’s terminals to a […]

Texas Central Partnering with Amtrak for High-Speed Rail Project

In August, the Texas High-Speed Rail project emerged from limbo with an announcement of a new partnership between Amtrak and Texas Central, the company developing the high-speed rail line between Dallas and Houston. The announcement is the project’s first major advancement in a year, amid concern that the project, which has been in planning for […]

NTE Mobility Partners Closes Financing for North Tarrant Express Capex

NTE Mobility Partners, the project concessionaire led by Cintra and Meridiam closed a refinancing on the North Tarrant Expressway in August. The new financing comes a few months after the final phase 3C of the express lanes network opened to traffic earlier this summer.

Unsolicited Proposal for I-77 Express Lanes Extension Rejected

In late August, state and regional highway planners in North Carolina rejected an unsolicited proposal from Cintra to extend the existing toll lanes on I-77 an additional 8.4 miles from Charlotte to the South Carolina border. This decision comes more than a year after the proposal’s existence was initially made public in February 2022.

Preferred Bidder for Calcasieu River Bridge P3 in Louisiana

A preferred bidder for the long-awaited I-10 Calcasieu River Bridge replacement project was finally selected in July. Louisiana Governor John Bel Edwards announced that the state was selecting Calcasieu Bridge Partners (CBP) for final negotiations for the bridge replacement P3. Construction on the project is slated to begin next year and is expected to last […]

Fixing Misleading Toll Road Metrics: It’s About Time

In September 2022 we published a research paper which critically examined a value for money benchmarking metric used throughout the toll road sector by policy makers, planners, consultants, rating agencies and financiers – and often quoted by the media; cents per mile.  We developed and applied an alternative approach, focused instead on cents per minute […]