4/24/2014 3:29 PM CET
Skanska appointed preferred bidder for I-4 highway project in Orlando, Florida
The “I-4 Mobility Partners” team, where Skanska is a partner, has been selected by the Florida Department of Transportation as the Best Value Proposer for the I-4 Ultimate Project. The PPP-contract includes design, build, finance, operations and maintenance responsibilities. The selection enables Orlando-based I-4 Mobility Partners to begin the process to achieve financial close.
The project is expected to be financed using equity, debt and a loan as part of the US Department of Transportation's Transportation Infrastructure Finance and Innovation Act(TIFIA). Skanska’s share of the equity investment will be 50%. The total amount of the contract for construction and design is expected to be about USD 2.3 billion, of which Skanska’s share is 40 percent. No order bookings or investments will be accounted for until financial close, which is expected during the second half of 2014. Construction is expected to start in the first half of 2015, with estimated completion end of 2021.
Skanska Infrastructure Development is a leader in the global Public Private Partnerships (PPP) market. The business unit invests in, develops and operates roads, hospitals, schools, power plants and other social infrastructure in partnership with the public sector.