Meridiam-led Consortium Named Best Value Proposer by GDOT for the SR400 Express Lanes MMIP Project
August 15 2024 - 4:55PM
Business Wire
Meridiam, a leading infrastructure investment firm, together
with ACCIONA and ACS Infrastructure—the SR400 Peach Partners
consortium (the “Consortium”)— today announced its selection as
Best Value Proposer for the SR400 Express Lanes MMIP Project (the
“Project”) by the Georgia Department of Transportation (GDOT).
The Project is a 16-mile-long corridor in the north of Atlanta,
which is anticipated to be upgraded and expanded to include
additional dynamically-tolled free-flow express lanes in each
direction, under an approximately 55-year design, construction,
finance, operation and maintenance (“DBFOM”) contract with State
Road and Tollway Authority. The Project’s design and construction
will be carried out by a joint venture between Dragados and Acciona
Construction, while the Consortium will set up a dedicated project
company to self-perform operation and maintenance. The Project will
be the first privately managed express lane project in
Georgia1.
The Project is focused on improving public accessibility and
fostering local economic growth. The Consortium developed a design
and an operational plan that will enhance the overall user
experience by providing a faster, safer and more reliable travel
option to the daily commuters in Fulton and Forsyth counties.
Construction has been carefully planned to minimize disruptions by
coordinating work during off-peak hours and utilizing phased
construction methods. This approach will help ensure that the
majority of traffic lanes remain open throughout the process. By
incorporating a state-of-the-art traffic management solution and
optimizing connectivity, the express lanes are designed to
streamline traffic flow and alleviate congestion during peak
hours.
“Our team is proud to have been selected as long-term partners
to GDOT, the State Road and Tollway Authority (SRTA) and key
project stakeholders in this transformative project. We are fully
committed to bringing reliable, safe travel and improved mobility
to the Atlanta community and broader region for generations to come
and will deploy the operational expertise and on-time, on budget
delivery reflected in our longstanding US track record in doing
so,” said Nicolas Rubio, CEO of Meridiam Americas.
Meridiam is a leading investor in the transportation sector,
having developed more than 1,500 miles of roads across 30 projects
representing a total contracted value of $28 billion. Meridiam is a
leader in managed lanes in North America with 5 assets in the
portfolio (the Project will be the 6th express lane project
developed by Meridiam) and manages investments in several roadway
project in the US, including:
- The North Tarrant Expressway project improved mobility along
the highly congested IH820 and SH121/183 highways through the
expansion of the existing general-purpose lanes and the
construction of 13.3 miles of managed lanes and direct connections
at major interchanges in Tarrant County, Texas.
- The I-66 Express Lanes Outside the Beltway project, a 22.5-mile
managed lanes concession on I-66 in northern Virginia outside the
Capital Beltway around Washington, DC.
- The Central 70 Highway in Denver Colorado, a DBFOM project that
updated a 10-mile stretch of the interstate highway to reduce
congestion, improve safety and better accommodate future growth
along this vital transportation corridor.
- The Presidio Parkway Project, which replaced approximately 1.6
miles of the existing South access road to the Golden Gate Bridge
in San Francisco, California.
About Meridiam
Founded in 2005, Meridiam provides solutions to public
infrastructure challenges through the long-term development,
financing and management of sustainable projects. Meridiam has over
$23bn under management across 125 assets focused on transportation
infrastructure, critical public services and energy transition in
the Americas, Europe and Africa. Ranked #1 US Transportation P3
Developer by Public Works Financing2, Meridiam is ISO 9001 and ISO
37001 certified and is a Certified B Corporation™.
1 https://www.dot.ga.gov/GDOT/Pages/P3.aspx 2 Public Works
Financing, July 2024, U.S Transportation P3 Developers
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Prosek Partners: pro-meridiam@prosek.com