Hochtief team wins California’s first road PPP
A joint venture of Hochtief subsidiary Flatiron and Kiewit has been chosen to build the Presidio Parkway in San Francisco, California.
Presidio Parkway is to be the first public-private partnership transport project delivered in the state under the recently enacted PPP statute. The project is a collaborative effort by the California Department of Transportation, the San Francisco County Transportation Authority, and the Federal Highway Administration.
The project has a construction value of more than US$250m (£159m). Flatiron will lead the design-build portion of the project in a joint venture with Kiewit Construction. Construction will begin in late August and is expected to continue through 2015.
Presidio Parkway will replace Doyle Drive, the approach to the Golden Gate Bridge used by more than 120,000 vehicles each day. Originally built in 1936, the roadway is structurally and seismically deficient. The Presidio Parkway project will improve seismic, structural and traffic safety, as well as integrate the roadway into the national park setting and create additional recreation space.
Flatiron is the design-build lead for Golden Link Concessionaire, which will design, build, finance, operate and maintain the project for 33.5 years. Hochtied and Meridiam are the project's developers and equity partners. HTNB Corporation is the lead engineering firm on the project.
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This article was published on 20/06/2012 (last updated on 20/06/2012).