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Why We Keep Cancelling

The Calcasieu River Bridge in Louisiana has become a bit of a metaphor for America’s aging infrastructure and dysfunctional infrastructure politics. The bridge is two decades beyond its original useful life, but the project to replace it has spent all of that time in various stages of planning and environmental permitting. Every stakeholder from the […]

Calcasieu Cancelled: Louisiana Legislators Cancel Bridge P3

On October 24th, the Louisiana Joint Committee on Transportation, Highways and Public Works voted to cancel the $2.1 billion Calcasieu River Bridge P3. The project was post-procurement and heading towards an end-of-year financial close before it was cancelled.

Puerto Rico Awards Toll Roads Concession to Abertis

Abertis Infraestructuras SA, through its subsidiary Puerto Rico Tollroads LLC, has successfully bid a $2.85 billion upfront payment to operate, maintain, and improve four toll roads in Puerto Rico. The firm will sign the P3 agreement and operate on the island under Metropistas.

More Capex, More Debt ‐ Evolving Balance Sheets of US Airports

U.S. airport passengers are back, or at least back to 2019 pre-pandemic levels, and the airport sector is undertaking a massive wave of capital expansions to meet rising demand. The trend will see balance sheets grow and prices climb, per a research report from Fitch Ratings in October. Large hub airports will lead the capital […]

High-Frequency Rail Moves to RFP

Transport Canada is moving forward with the country’s most significant infrastructure project in several decades. The launch of the RFP for the High-Frequency Rail (HFR) project between Quebec City and Toronto could redefine travel along one of the country’s most populous and trafficked corridors. The scope of the HFR project is to upgrade more than […]

Bids in for Puerto Rico Brownfield Toll Road Concession

Bids are in for the first US brownfield toll road concession in years. Local news The San Juan Daily Star reported that at least two of the shortlisted teams for Puerto Rico’s planned toll road concession had submitted proposals to the island’s Public-Private Partnerships Authority (P3A), which is managing the procurement.

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.