| RELEASE: CONTACT: |
IMMEDIATE Jeffrey Caldwell 804-786-2715 Jeffrey.Caldwell@vdot.virginia.gov |
CO-0649 Sept. 21, 2006 |
COMMONWEALTH TRANSPORTATION BOARD IS BRIEFED ON ROUTE 460 PPTA PROPOSALS
NORFOLK — The Commonwealth Transportation Board (CTB) got its first glance at three proposals from private-sector firms wishing to build a new Route 460 between Petersburg and Suffolk. The Virginia Department of Transportation (VDOT) received three conceptual proposals Sept. 14 in response to its solicitation under the Public-Private Transportation Act (PPTA) for private firms to develop and operate the facility.
In February 2006, VDOT solicited the private sector to submit conceptual proposals to develop and operate a new Route 460 in southeastern Virginia. The solicitation was for improvements to Route 460 that would be supported totally or substantially by private investments, user fees including tolls and other innovative financing methods. There are currently no public funds to build this project.
Route 460 is part of the federally designated National Highway System, a key component of freight and port development plans and the strategic highway network, and is a hurricane evacuation route. The new 55-mile, four-lane divided highway would be built south of existing Route 460 from I-295 in Prince George County to Route 58 in Suffolk, and consistent with the findings of the environmental review process.
The proposals outline different possible solutions to develop and build a new Route 460. VDOT received Route 460 proposals by the required Sept. 14, 2006, submittal date from:
The design-build price ranges from $1.05 billion to $1.55 billion in current year figures and have preliminary toll rates which are consistent with the Route 460 Toll Feasibility Study which examined a range of tolls between $.07 and $.24 per mile. The proposals also incorporate public funding requests ranging from $600 million to $2 billion (in year of expenditure and include additional cost items such as right of way and toll facility costs not included in the prices outlined above).
VDOT has up to 30 days to conduct a quality-control evaluation of the proposals to ensure that each meets the requirements of the request for proposals, PPTA guidelines and related legislation. Those proposals that meet the quality-control criteria will move to the next step of the procurement process, which is a review by an independent review panel.
Secretary of Transportation Pierce Homer will appoint the independent review panel in November and will solicit input from localities along the route and the general public later this year. This review process will include significant public participation activities.
The review panel will make a recommendation in the spring of 2007 regarding which PPTA proposals should be pursued and could request additional detail.
For more information on the PPTA process and guidelines, and to read the proposals, visit www.VirginiaDOT.org/projects/ppta-US-Route460.asp. The proposals will be posted on this site within 10 business days.
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In February 2006, VDOT solicited the private sector to submit conceptual proposals to develop and operate a new Route 460 in southeastern Virginia. The solicitation was for improvements to Route 460 that would be supported totally or substantially by private investments, user fees including tolls and other innovative financing methods. There are currently no public funds to build this project.
Route 460 is part of the federally designated National Highway System, a key component of freight and port development plans and the strategic highway network, and is a hurricane evacuation route. The new 55-mile, four-lane divided highway would be built south of existing Route 460 from I-295 in Prince George County to Route 58 in Suffolk, and consistent with the findings of the environmental review process.
The proposals outline different possible solutions to develop and build a new Route 460. VDOT received Route 460 proposals by the required Sept. 14, 2006, submittal date from:
- Virginia Corridor Partners (SPC), including:
- Macquarie Investment Holdings, Inc.
- Skanska Infrastructure Development
- Tidewater Skanska, Inc.
- Lane Construction Corporation
- DMJM Harris
- Morgan Stanley / Morgan Keegan
- Itinere, including:
- Itinere Infraestructuras S.A.
- Sacyr S.A.U.
- Clark Construction Group, Inc.
- Shirley Contracting Company
- Louis Berger Group, Inc.
- CitiGroup
- Cintra 460, including:
- Cintra US Corp.
- Cintra (Concesiones de Infraestructuras de Transporte S.A.)
- Ferrovial Agroman, S.A.
- Earth Tech
The design-build price ranges from $1.05 billion to $1.55 billion in current year figures and have preliminary toll rates which are consistent with the Route 460 Toll Feasibility Study which examined a range of tolls between $.07 and $.24 per mile. The proposals also incorporate public funding requests ranging from $600 million to $2 billion (in year of expenditure and include additional cost items such as right of way and toll facility costs not included in the prices outlined above).
VDOT has up to 30 days to conduct a quality-control evaluation of the proposals to ensure that each meets the requirements of the request for proposals, PPTA guidelines and related legislation. Those proposals that meet the quality-control criteria will move to the next step of the procurement process, which is a review by an independent review panel.
Secretary of Transportation Pierce Homer will appoint the independent review panel in November and will solicit input from localities along the route and the general public later this year. This review process will include significant public participation activities.
The review panel will make a recommendation in the spring of 2007 regarding which PPTA proposals should be pursued and could request additional detail.
For more information on the PPTA process and guidelines, and to read the proposals, visit www.VirginiaDOT.org/projects/ppta-US-Route460.asp. The proposals will be posted on this site within 10 business days.
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Page last modified: Sept. 21, 2006
