Alexandra Atiya
An appeals court has dismissed a legal challenge brought by an engineers’ union to stop a public-private partnership to construct a road leading up to San Francisco’s Golden Gate Bridge. However, the union may still bring the case before California’s Supreme Court.
Puerto Rico received 12 responses from infrastructure funds, US private equity firms, Canadian pensions, and developers based in Spain and India to a request for qualifications for an up to 50-year concession of its principal airport, located near the capital, San Juan.
Former Indianapolis Mayor Stephen Goldsmith joined the administration of New York City Mayor Michael Bloomberg a little over a year ago. Goldsmith said he has received "important overtures" to pursue a position in infrastructure finance.
The federal agency PPP Canada, which manages a C$1.2bn public-private partnership fund, has issued a request for proposals to create a framework for the procurement of PPPs.
The public-private partnership hospital in Ontario will be funded with C$543m of long-term bonds, a C$587m completion payment from the public authorities and C$110m of equity. Fengate said it will invest in the project on behalf of five infrastructure funds.
The city has asked the Federal Aviation Administration to extend Midway Airport's slot in the Pilot Privatisation Programme, which allows up to 5 US airports to pursue privatisation. But Chicago may not plan to pursue a deal in the near-term.
The New York- and Toronto- listed fund Brookfield Infrastructure Partners has also secured three of six agreements for the expansion of their Australian rail business, which executives say will increase EBITDA by $150m per year.
The New Mexico Educational Retirement Board, which made its first infrastructure commitments in 2008, received 10 responses for the consultant position. The $9.5bn pension is looking to pursue investments that are "more sophisticated than just buying funds", according to an investment officer.
The Macquarie-backed toll road, which opened in 2007 with a 35-year concession, filed for bankruptcy last year. The San Diego Association of Governments has voted to acquire the lease, but a final decision may take a few more months.
Rift Valley Railways, which operates rail lines in Kenya and Uganda, has received a financing package from the African Development Bank, the International Finance Corporation, Kenya’s Equity Bank and others. The financing forms part of a $287m capital expenditure programme.