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California's Transportation Authorities Issue Notice of Intent to Award $1 Billion Worth Project to HOCHTIEF

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Oct 25 2010

The State of California, Department of Transportation and the San Francisco County Transportation Authority issued a Notice of Intent to Award a PPP project worth USD 1 billion (EUR 715 million) to a consortium around HOCHTIEF PPP Solutions North America.

HOCHTIEF Concessions’ subsidiary together with a partner shall design, build, finance, operate and maintain the Presidio Parkway in San Francisco. The partners each have a 50 percent share. The consortium‘s construction team is led by HOCHTIEF subsidiary Flatiron.

Presidio Parkway will replace the existing southern access road to the Golden Gate Bridge. At the beginning of October, Governor Arnold Schwarzenegger already approved the fiscal appropriations necessary for remunerating the private partner. The contract is planned to be awarded to the consortium around the HOCHTIEF subsidiary in December at the latest. The other teams shortlisted for the project included, among others, the Golden Gate Access Group around the Spanish construction group ACS.

Source: http://www.hochtief.com/

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