Cintra and TxDOT Moving Forward with North Tarrant Express Partnership
Cintra Obtains $570M Public Investment For Texas Road Project
Wall Street Journal, June 24, 2009
MADRID (Dow Jones)—Spanish toll-road and parking operator Cintra SA (CIN.MC) has obtained $570 million in state investment from the Texas Department of Transportation as part of the development the North Tarrant Express highway, the department said in a release Tuesday.
A Cintra-led group was in late January conditionally awarded the deal, which covers about 13 miles of the planned North Tarrant Expressway outside Fort Worth.
Cintra and partners have agreed to put up the rest of the roughly $2 billion investment for the development of the stretch, as well as $450 million to operate and maintain the facilities over the next 52 years.
Construction is expected to begin late next year and the highway will open to traffic in 2015.
Company Web site: www.cintra.es
Department Web site: www.txdot.gov
Texas in highway partnership with JPMorgan, Cintra
Reuters, June 23, 2009
NEW YORK - The Texas Department of Transportation on Tuesday launched a public-private partnership with a consortium that includes JPMorgan Chase and Spain's Cintra to build and operate 13 miles of highway in Tarrant County.
The state will invest about $570 million in a project valued at about $2.5 billion, the Transportation Department said in a statement.
The consortium, North Tarrant Express, Mobility Partners consists of 11 equity sponsors, including JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz), Cintra (CCIT.MC: Quote, Profile, Research, Stock Buzz) and engineering companies. The Dallas police and fire pension system also has the option of investing in the project.
Tarrant County is located in north-central Texas.
Posted by Lauren at June 24, 2009 4:57 PM 
Categories: Public-Private Partnerships, Texas Department of Transportation, North Tarrant Express
Categories: Public-Private Partnerships, Texas Department of Transportation, North Tarrant Express
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