Posted on 06/22/2019 4:44:48 PM PDT by Tolerance Sucks Rocks
Ground was broken this month on an anxiously awaited highway project outside of Washington, D.C., one of the latest examples of the public and private sector acting as partners to advance critical state and local infrastructure projects.
The June 6 launch of the Fredericksburg Extension Project – a 10-mile extension of express toll lanes on the Interstate 95 corridor in Northern Virginia nicknamed the “FredEx” – featured the leadership of a public-private partnership (P3) that will get the $565 million job done by the end of 2022. The state’s governor and its transportation secretary launched the project as the public side of the P3, and executives from toll-road operator Transurban would be the private side of the partnership.
“Not only will this project reduce congestion and provide important corridor improvements, but as a result of this joint commitment from our public and private sector partners, this project is also estimated to create 9,100 jobs and generate $1.1 billion in economic activity for this fast-growing region,” Gov. Ralph Northam said during the ceremony, summing up the basic premise of P3s, which are increasingly being formed to push through road projects designed to ease traffic congestion in the high-growth areas where new jobs and taxpayers are clustering.
Transurban’s role in the project is to ride to the rescue of cash-strapped states and other governments by financing increasingly costly and urgently needed traffic projects in exchange for operational control and the ability to collect tolls from thousands of annoyed drivers every day. The Australia-based corporation has toll roads around the world and said in its most-recent annual report that its toll revenues had increased 8 percent to more than $2.2 billion for the year.
(Excerpt) Read more at transportationtodaynews.com ...
PING.
If the rats are in charge I wouldn’t.
Giving right of way purchased with taxpayer money to foreign investors so they can charge taxpayers to ride on roadways that they’ve already paid for.
Sounds like a profitable business plan to me.
Is there any PPP (i.e., private toll road) that actually is LIKED by the general public, or is it just politicians (with pockets lined by lobbyists) who like them?
No kidding! You nailed it.
Why AUSTRALIA! ?? Why not Americans First, as the private partner? Too conservative probably for the Dim VA governor. Really, there “oughta be a Law”...
“public and private sector acting as partners”
Just like the high speed train in kali-fornia. Unless Australia has eliminated graft and corruption.
Crony Capitalism
It may also be said; “The Road to Corruption is being paved with public-private partnerships.”
Bump
In a good ole day there was a word for public-private partnership. Fascism. They thought it was cool up until it wasn’t.
Kind of like Texas 130
OHIO PING!
Please let me know if you want on or off the Ohio Ping list.
“Road to success is being paved with public-private partnerships.”
The Southern Ohio Veterans Memorial Highway in the Appalachian region of southern Ohio was built toll-free by the Portsmouth Gateway Group, which will be paid by the state to maintain the 16-mile project for the next 35 years.
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