PURPLE LINE PARTNERS NAMED PREFERRED BIDDER BY MDOT FOR PURPLE LINE PROJECT CONSORTIUM TEAM INCLUDES MERIDIAM, FLUOR & STAR AMERICA BALTIMORE, MARYLAND
Purple Line Transit Partners, a consortium comprised of Meridiam, Fluor Enterprises, Inc. and Star America have been selected by the Maryland Department of Transportation (“MDOT”) and the Maryland Transit Administration (“MTA”) as Preferred Bidder for the Purple Line Light Rail Transit Public - Private Partnership (“PPP”) Project. Star America will be providing 15% of the equity.
Fluor Construction, Lane, and Traylor Brothers have formed a construction joint venture to build the Project. Fluor, Alternate Concepts, Inc, and CAF USA have formed an operations and maintenance joint venture with CAF USA providing the light rail vehicles for the Project. Commercial Close is anticipated in Q1 2016 with financial close scheduled for Q2 2016.
“We are delighted to have been chosen by MDOT and MTA as their partner in delivering this essential and critical infrastructure project for the state. After being awarded the first PPP in Ohio and the first PPP in Michigan in the past few months, we are looking forward to working with MDOT and MTA and continuing to demonstrate the value we have shown in the past in partnering with states and public agencies and delivering landmark infrastructure projects” said Bill Marino, CEO of Star America. Star America is backed by US pension funds and insurance companies. The Purple Line will be the fifth P3 project Star America will develop since 2013.
The $2 billion Purple Line Project, tendered by the Maryland Department of Transportation and Maryland Transit Administration requires the Concessionaire to finance, develop, design, construct, equip and supply light rail vehicles for, and operate and maintain a 16.2 - mile light rail transit line that extends from Bethesda to New Carrollton, and extends east - west inside the Capital Beltway within the Maryland suburbs north of Washington, DC. The Project connects five major activity centers in Prince George’s and Montgomery Counties: Bethesda, Silver Spring, Takoma/Langley Park, College Park and New Carrollton. The new transit line will provide direct connections to four branches of the Washington Metropolitan Metrorail system, as well as connections to three Regional Commuter rail lines plus Amtrak’s Northeast Corridor. There will be 21 permanent stations servicing residents and commuters in the areas.
The Project runs partially through dedicated right of way and partially on embedded track on roadways with vehicular traffic as is common for urban light rail projects.
For additional information, contact:
Mark Melson 516-882-4100
About Star America
Star America Infrastructure Partners is an independent US headquartered developer and manager of greenfield infrastructure assets in North America, backed by US pension funds and insurance companies. Star America focuses on partnering with states and public agencies in delivering infrastructure projects across the transportation, social and environmental sectors. Over the past 15 years, Star America’s team members have had experience financing, underwriting and managing over 45 infrastructure projects valued at over $60 bn. Since its inception a few years ago Star America has been awarded or become a partner in five public private partnerships, one of which is already in operation.