Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: August 10, 2010

Project Name: I-635 LBJ Express Project
Year in Operation:
Sector: Transportation
Subsector: Roads
Status: Design / Construction
Type: Substantial Alteration of Existing Facility
Description: $2.7 billion dollar makeover of 13 miles of I-635 in the Dallas Fort Worth area -- which will add up to six express toll lanes. The LBJ Infrastructure Group - a consortium led by Cintra -- will design, build, finance, maintain and operate a17 mile corridor of I-635 between I-35 and the so-called Central Expressway. the number of lanes on the LBJ project will increase (generally) from 10 to 18.
Delivery Method as described in the country where it's located: Concession
Is the project still active: Yes
Comments: This is a DBFOM project, with substantial equity contributions from the private sector and up-front contributions by the Dallas Area Rapid Transit (DART) and the Regional Transportation Council.

Project Locations

Address:
City: Dallas
State: Texas
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Long term concession from TX DOT to private concessionaire.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Arrow Right
Checkbox Checked

Direct Cash Support: $500 million from DART and Dallas Regional Transportation Council.

Arrow Right
Checkbox Checked

Credit Enhancements: $850 million TIFIA loan to the concessionaire.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Balance of $2.7 billion project is privately financed thtough debt.

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From Producers as Equity: $664 million in private equity from the LBJ Infrastructure Group, which includes CINTRA. The Dallas Police and Fire Pension System is also contributing equity.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
50
0
Forms
Description
Other
Comprehensive Development Agreement format used previously by Tx DOT with Cintra, as adjusted. 

Project Value (If and As Known)

Date of Estimated Project Value: June 30, 2010
Project Value
Hard Cost
Hard & Soft Costs
Design
$100-500 Million US
$100-500 Million US
Construction
$1-5 Billion US
$1-5 Billion US
Operations & Maintenance
< $200 Million US
$200-500 Million US
Total
$2-10 Billion US
$2-10 Billion US
Array ( )

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