- USDOT Announces INFRA Grants For 26 State And Local Projects
- Kapsch And IT Security Firm Collaborate To Make Secure, Scalable V2X Deployment Simpler
- New Hires Will Help PayByCar Expand Business Development And Marketing
- Fitch Raises Its Rating Outlook On MDX Bond Debt
- These are just some of the toll industry developments TRN is following.
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USDOT Announces INFRA Grants For 26 State And Local Projects
USDOT yesterday announced the award of $1.5 billion in competitive INFRA program grants to state and local projects “for highway, multimodal freight and rail projects that will make the nation’s transportation systems safer and more resilient, eliminate supply chain bottlenecks, and improve critical freight movements.” The department noted, “Thanks to a new, streamlined process . . . applicants were able to submit one application for three different grant programs, including INFRA and two new programs, the Rural Surface Transportation Grant program (RURAL), and the National Infrastructure Project Assistance program (Mega). The recipients of RURAL and Mega grants will be announced in the coming months.” USDOT published descriptions of the 26 projects that were awarded grants.
“Engineering News-Record” reports that the selected projects are located in 23 states and Puerto Rico, and reflect the broadening of application criteria authorized under the IIJA. “Possible projects now include wildlife crossings for infrastructure assets and surface transportation projects that are in or connected to an international border crossing.” The new infrastructure law increased previous INFRA funding levels by more than 50 percent.
The projects selected to receive funding through the highly competitive grant process include: SANDAG construction of a tolled access highway to the new Otay Mesa Port of Entry; the Rhode Island Turnpike and Bridge Authority’s major rehabilitation of the Newport Pell toll bridge; and Colorado DOT’s improvement of I-70’s Floyd Hill corridor through the addition of a new westbound express lane.Colorado Department of Transportation Rhode Island Turnpike and Bridge Authority (RITBA) San Diego Association of Governments (SANDAG) US Department of Transportation (USDOT) US Gov't Transportation Funding US Infrastructure Funding And Financing Initiatives
Kapsch And IT Security Firm Collaborate To Make Secure, Scalable V2X Deployment Simpler
KapschTrafficCom (KTC) announced that it has entered into a strategic collaboration with Microsec, a provider of public key infrastructure for ensuring the security and integrity of V2X communications. Kapsch stated that integrating its diverse Traffic and Connected Vehicle Services portfolio Microsec’s IEEE 1609.2.1 standards-based advanced V2X PKI security solutions “creates a commercial-ready solution option for roadway operators to manage connected corridors securely. Delivering security services packaged with connected corridor solutions for highway and urban environments offers simplification, adaptability and scalability to roadway operators of any size.” Steve Sprouffske, a KTC Connected Vehicle Services vice president, commented, “Connected Vehicle Services and the connected transportation market are ready for operational programs which truly impact the safety of our transportation stakeholders. With this new collaboration . . . , we want to spur new growth at scale which delivers on the promise of Connected Vehicles.” The firms will jointly offer integrated solutions to customers in Europe, North America and the Asia-Pacific region.Cybersecurity Information Technology Resources and Acquisitions Kapsch V2X and V2V Technology
New Hires Will Help PayByCar Expand Business Development And Marketing
PayByCar, the provider of a low-touch, E-ZPass-enabled fuel payment solution for drivers in Massachusetts, announced the expansion of its business and marketing team following its recent completion of a $4 million round of seed funding. Joining the firm are Dave Clark, Business Development Director, and Dharin Shah, Marketing Manager. PayByCar CEO Kevin Condon said Clark and Shah will contribute to the firm’s planned expansion into new states and such new verticals as parking fee and retail purchase payment.E-ZPass ETC Systems Massachusetts Mobile Payment Systems PayByCar
Fitch Raises Its Rating Outlook On MDX Bond Debt
Fitch Ratings announced that it has affirmed its ‘BBB+’ rating of $1.3 billion of outstanding senior revenue bonds issued by the Miami-Dade County Expressway Authority (MDX), and revised its Rating Outlook to Stable from Negative. “The Outlook revision,” Fitch stated, “reflects Fitch’s view that despite the ongoing litigation [over the authority’s proposed termination and replacement by a state-controlled entity], the authority has adapted to the limitations on toll rate setting and funding access by effectively managing operations while maintaining a solid financial profile. MDX continues to demonstrate flexibility in managing the system’s asset maintenance and has reprioritized its capital plan to ensure healthy fiscal metrics and liquidity balances are maintained. The strong post-pandemic traffic and revenue performance supports future cash flow generation.”Company and Agency Financial Issues And Reports Fitch Ratings Florida Investment Ratings Miami-Dade County Miami-Dade Expressway Authority (MDX)
These are just some of the toll industry developments TRN is following.
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