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: November 30, -0001

Project Name: I-77 Express (Charlotte, NC)
Year in Operation: 2019
Sector: Transportation
Subsector: Roads
Status: In Operation
Type: Substantial Alteration of Existing Facility
Description: I-77 Express is a PP between the NC DOT and I-77 Mobility Partners for the construction of I-77 Express and other infrastructure improvements along an existing 26-mile portion of Interstate I-77 near Charlotte, NC. I-77 Mobility Partners is financing, developing, designing, construction, operating and maintaining the project. Sugar Creek Construction is a joint venture between FA Southeast and English Construction that is designed and built the initial project.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: Public Private Partnership, though NCDOT retains ownership of the roadway.

Project Locations

Address: I-77
City: Cornelius
State: North Carolina
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)
Checkbox Checked Environmental Clearance

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: Winning proposal by Cintra in April 2011 called for a total project investment of $647 million, of which $95 million is contributed by NCDOT. On June 26, 2014, NCDOT signed a comprehensive agreement for the delivery of the project to design, build, finance, operate, and maintain highway infrastructure as specified in the project documents.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: $552 million from Cintra - combination of debt and equity. Financial close on May 20, 2015.

Checkbox Checked

From Producers as Equity: $552 million from Cintra - combination of debt and equity.

Project Delivery & Finance Method

Project Delivery:
Design Build Operate Maintain (Partially Public Finance). Public Sponsor contracts for initial design, construction, and for long term operations and maintenance with a single entity. At the end of the term, Public Sponsor regains control of the facility.
Is there an independant checking engineer? No
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
Design Build Operate and Maintain
X
X
Project Component
Yes
No
Is Negotiation of the Price Permitted After Selection of the Winner?
X
Is Negotiation of the Scope of Services Permitted After Selection of the Winner?
X
Are the fees (tolls) to be charged to users over the term an evaluation factor user in Selection of the Winner?
X

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
50
0
Forms
Description
Other
Negotiated Comprehensive Agreement between NCDOT and I-77 Mobility Partners 

Project Value (If and As Known)

Date of Estimated Project Value: January 11, 2019
Project Value
Hard Cost
Hard & Soft Costs
Construction
$250 Million - 1 Billion US
(none)
Operations & Maintenance
$200-500 Million US
(none)
Total
$500 Million - 2 Billion US
(none)

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