A consortium led by Albertis Infraestructuras, a Barcelona, Spain-based infrastructure management firm, has won a bid to run the Pennsylvania Turnpike for an investment of $12.8 billon. The deal, which still requires the approval of the Pennsylvania state legislature, would turn over the management and operation of the toll road to Albertis for 75 years. The investment reportedly includes more than $5 billion to repair and upgrade the road. The consortium will earn revenue from charging vehicle driver fees, which, according to state regulations, cannot exceed current proposals of 25 percent in 2009 followed by inflation-linked increases in following years. State figures show that more than 447,000 cars on average use the turnpike every day. Albertis currently has interests in the United States in Georgia and California.
All contents copyright 2022 Halcyon Business Publications, Inc.