Location |
Pennsylvania (statewide) |
Project Sponsor |
Pennsylvania Department of Transportation (PennDOT) |
Program Areas |
|
Mode |
Bridge |
Description |
The Pennsylvania Rapid Bridge Replacement Project will replace 558 structurally deficient bridges across the commonwealth under a design-build-finance-maintain (DBFM) public-private partnership (P3) arrangement between PennDOT and Plenary Keystone Partners. The concessionaire will also be responsible for demolishing the existing bridges, maintaining traffic during construction, and then maintaining the bridges for 25 years following construction. PennDOT will retain ownership of the bridges throughout the concession period. |
Cost |
Project cost: $1.119 billion (includes financing costs) Design-build contract: $899 million |
Funding Sources |
Total Project Funding (construction period):
|
Project Delivery / Contract Method |
Design, build, finance, and maintain (DBFM) |
Private Partner |
Plenary Walsh Keystone Partners
|
Project Advisors / Consultants |
Underwriters:
To the sponsor (PennDOT):
To the concessionaire:
|
Lenders |
Pennsylvania Economic Development Financing Authority (Private Activity Revenue Bonds) |
Duration / Status |
The Notice to Proceed was issued on January 31, 2015. The construction of the ECBs is expected to begin late spring/early summer 2015, and the bridges will be completed in batches. Substantial completion of the project is expected on December 31, 2017. |
Financial Status |
Commercial close occurred on January 9, 2015. Financial close occurred on March 18, 2015. |
Innovations |
|
Related Links / Articles |
Pennsylvania Rapid Bridge Project Website PennDOT Procurement and Project Resources Public-Private Partnership Agreement PennDOT Project FAQs |
Contacts |
Brian Kendro |