Northeast Region Deal of the Year for Pennsylvania Rapid Bridge Replacement Project
Published 09 December 2015PENNSYLVANIA, UNITED STATES: The Pennsylvania Rapid Bridge Replacement Project, a public-private partnership between the State Department of Transportation and a consortium including Plenary Group, was selected as the Northeast Region's 2015 Deal of the Year by The Bond Buyer.
The project is recognized as the largest private activity bond financing of a public-private partnership in U.S. history and the largest road project in Pennsylvania's history. It is also considered the first public-private partnership (P3) to bundle multiple bridges into a single procurement in the U.S.
"It is exciting to see that this project is being recognized," said Governor Wolf. "Making projects like this a reality takes time, planning and teamwork on behalf of state agencies, boards, and private partners and it is great to see their efforts recognized for a transaction that will allow for much-needed work to hundreds of Pennsylvania bridges."
"With such a large inventory of bridges and a sizeable backlog of repair needs, we looked to innovative solutions to address the problem," said PennDOT Secretary Leslie S. Richards. "We are working hard with our P3 partners to deliver our promise of 558 bridges replaced over the next three years."
The project will see the new design and construction of 558 structurally deficient, geographically dispersed bridges across the state over a three-year period, followed by a 25-year O&M period for each bridge.
The Plenary Walsh Keystone Partners consortium financed and will manage the design, construction and maintenance of the project.
The Plenary Walsh Keystone Partners Consortium consists of:
- Plenary Group
- The Walsh Group
- Granite Construction Company
- HDR Engineering
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