Plenary secures second US win: Texas SH 183 Managed Lanes Project
Published 25 July 2014
DALLAS, TEXAS – Plenary Group’s US business has won its second project in the region; the $847 million SH 183 Managed Lanes Project in Texas that will provide vital upgrades to one of the State’s most congested highways.
Under the project agreement with Texas Department of Transportation of Transportation (TxDOT), due to be finalised later this year, the SouthGate Mobility Partners consortium will design, construct, provide short-term financing, operate and maintain a 14 mile portion of State Highway 183 through the cities of Euless, Irving and Dallas.
The SouthGate Mobility Partners consortium comprises:
Plenary Group: Financial advisor and development partner
Kiewit Development Company and Kiewit Infrastructure South: Developer
Kiewit Infrastructure South and Austin Bridge & Road joint venture: Builder
SouthGate Mobility Partners and ICA: Operation and Maintenance
Parsons Transportation Group: Engineer
The SH 183 highway serves as a primary artery between Dallas and Fort Worth. Congestion on this popular roadway is expected to double in coming decades.
Dale Bonner, Executive Chairman of Plenary Concessions, said a second major win for Plenary further advances the company’s growing presence in the US.
“This is another exciting win for Plenary’s US business and we look forward to working with our partners and TxDOT to deliver this vital project for commuters in the Dallas-Fort Worth region,” Mr Bonner said.
“Our success here in the US to date is indicative of the increasing use of the public-private partnership procurement model for major infrastructure projects, and speaks to our momentum in becoming a major player in the US P3 market.”
The SH 183 Managed Lanes Project comprises:
The reconstruction of existing lanes and the addition of managed lanes on 14.8 miles of SH 183;
The addition of 2.1 miles of eastbound and westbound managed lanes on SH 114;
The addition of 2.3 miles of westbound managed lanes on Loop 12 from SH 183 to IH 35E; and
The construction of general purpose lanes, frontage roads, ramps and connecting roadways, associated drainage, structures, signing and pavement marking, lighting, landscaping, and right of way acquisition and utility adjustments.
Over the coming months Plenary will work closely with TxDOT to finalise the project agreement and financing with a view of achieving financial close in September.
Construction is expected to commence in early 2015.
Plenary Group established its US operations in 2013. The company has an office in Los Angeles, California and recently opened a second corporate office in Denver, Colorado.