More than 350 transportation design and construction industry leaders heard that public-private partnerships (P3) are gaining further recognition as a viable option to help address the nation’s growing transportation infrastructure investment needs at the American Road & Transportation Builders Association’s (ARTBA) 18th annual conference on Public-Private Ventures (PPV) in Transportation. The conference, held Nov. 16 to 17 in Washington, D.C., annually showcases the latest information on private participation in transportation infrastructure financing.
Speakers included Indiana Gov. Mitch Daniels, who called for proactive and innovative approaches to transportation financing. Daniels discussed his “Major Moves” initiative, largely paid for by a $3.85 billion tollway concession, which will provide record transportation construction investment for Indiana over the next 10 years.
House Transportation & Infrastructure Committee Chairman Don Young, R-AK, said the federal government needs to invest $600 billion to improve the current network and ensure the nation’s continued economic competitiveness in the global marketplace.
During the two-day conference, session also were held on P3 best practices and techniques, case studies of current projects, truck-only lanes, congestion pricing and tolling, private investment on public transportation projects and risk allocation in concession agreements.
ARTBA recognized Cintra’s Jose Maria Lopez and the Texas Department of Transportation’s Ted Houghton with the 2006 PPV “Entrepreneur of the Year Awards.” The awards are presented annually to private and public sector professionals who have made outstanding contributions to the promotion of P3 that advance transportation infrastructure improvements.
Four PPV in transportation projects also were honored as this year’s best, including:
• The Virginia Department of Transportation and Transurban (895) LLC for the Pocahontas Parkway (VA 895);
• The Oregon Department of Transportation and Oregon Transportation Improvement Group, a Macquarie Infrastructure Group-let consortium for the Oregon Innovative Partnerships Program;
• The Texas Department of Transportation and Cintra Zachry LLC, for State Highway 130, Segments 5 and 6; and
• The state of Indiana and ITR Concession Company, a Contra-Macquarie consortium, for the Indiana Toll Road.