Daily News Briefs, September 8, 2020

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PA Turnpike's Southern Beltway Project Is Back On Its Original Schedule

Pittsburgh Post-Gazette reports, “A reasonable winter and relatively dry summer has allowed construction crews building the Southern Beltway to overcome the COVID-19 delay and get the project back on schedule. Brad Heigel, chief engineer for the Pennsylvania Turnpike, said last week the $900 million toll road still is scheduled to partially open in October 2021 and be fully operational by June 2022.”

Highway and Bridge Safety (Including COVID-19 Impacts) Pennsylvania Pennsylvania Turnpike Commission (PTC) Walsh Group

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Federal Delay Boosts The Gateway Program Cost Estimate

Transportation Today reports, the non-profit company managing the Gateway Program, the mammoth proposal to revitalize a segment of northeast rail corridor in metro New York City, issued an updated financial plan that estimates construction costs have increased by $275 million due to delays in federal government processing of a Final Environmental Impact Statement and a Record of Decision. The company’s new estimate is that infrastructure construction will cost a total of $11.6 billion,

Amtrak Environmental Protection Policies and Procedures Gateway Program (Northeast Corridor Rail Tunnel Project) New Jersey New York New York City Port Authority of New York and New Jersey (PANYNJ) US Department of Transportation (USDOT) US Gov't Transportation Funding

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Cube Infrastructure Secures Loan To Finance Toll Road Concession Acquisitions

Livemint reports, “Cube Highways and Infrastructure [today] announced an agreement with State Bank of India (SBI) for a Rs3,500 crore [approximately USD475 million] term loan facility to purchase the third bundle of road assets auctioned under the government’s toll-operate-transfer (TOT) model. This is one of the largest financings in India’s road sector, said Cube Highways, which was set up by global infrastructure investment firm I Squared Capital and counts Abu Dhabi Investment Authority among its shareholders.” The article notes that the company won the TOT auction in December, but completion of the transaction was delayed by the impact of COVID-19.

Cube Highways and Infrastructure (Singapore) India Infrastructure Investment Trends P3

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These are just some of the toll industry developments TRN is following.

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