Consortia led by Cintra Infraestructuras, InfraRed Capital Partners and Plenary Group have been green-lighted to bid for the ‘Portsmouth Bypass’, a greenfield project and the second public-private partnership (PPP; P3) for the US state of Ohio.
Cintra, InfraRed and Plenary can now submit a proposal for the $500 million project, the Ohio Department of Transportation (ODOT) announced. Each team responded to a Request for Qualifications (RFQ) that the Department published in June.
A fourth consortium, headed by Macquarie Capital and including Kiewit Development Company and Kokosing Infrastructure, also replied to the RFQ, but was not shortlisted for a Request for Proposals (RFP).
The shortlisted consortia are:
-‘Portsmouth Bypass Development Partners’, led by equity provider and private toll road developer and operator Cintra, with Ferrovial Agroman US as lead contractor;
-‘PWP Portsmouth’, with equity provider and co-concessionaire Plenary along with Walsh Investors and co-concessionaire Parsons Enterprises also providing equity, and;
-‘Portsmouth Gateway Group’, with fund manager InfraRed, ACS Infrastructure Development and Star America Fund putting up the equity.
ODOT is expected to review proposals through the first quarter of 2014, with commercial and financial close expected in the fourth quarter of next year. The design, build, finance, operate and maintain (DBFOM) concession is a 40-year availability pay contract.
The proposed Portsmouth Bypass is a four-lane, 16-mile envisioned alternative to US Route 52 (US 52) and US Route 23 (US 23). The Bypass, to be located in the city of Portsmouth, would reduce traffic on US 52 and US 23.
The Bypass is the second transportation infrastructure P3 for Ohio, which has selected a preferred bidder for its first-ever P3: the $273 million Innerbelt Bridge project in Cleveland.