Gov. Ricardo Rosselló broke ground on the construction of two reversible lanes that will highway PR-18 at the Río Piedras Medical Center and PR-30 in Gurabo, at a cost of $174 million.
The Highways and Transportation Authority has begun installing the first four electronic road signs on the busy Baldorioty de Castro Avenue at a cost of $3.5 million, to inform drivers of road conditions and incidents starting later this year.
Gov. Ricardo Rosselló, flanked by Highways and Transportation Authority Executive Director Carlos Contreras-Aponte, announced several federally funded road repair projects representing an investment of more than $112 million.
Salvador Alemany, president of Spanish infrastructure firm abertis, which is partner in the consortium that operates one of Puerto Rico’s busiest highways, was on the island Thursday participating in a series of meetings, including a brief encounter with Gov. Alejandro García-Padilla.
Two years after taking over the management responsibilities of Puerto Rico’s highways PR-22 and PR-5 from the government, private operator metropistas has already invested $30 million in improvements, company officials said Wednesday.
The Puerto Rico Highway and Transportation Authority closed Thursday $400 million in Bond Anticipation Notes financing with RBC Capital Markets that will benefit both the agency and the Government Development Bank, its Interim President José Pagán said.
Starting today users driving along Puerto Rico highway 22, commonly known as the José De Diego Expressway, will be able to use the new dynamic toll lanes that will run between the Buchanan and Toa Baja toll stations, operator Metropistas said.
For the second time in as many months, the government’s 40-year Public-Private Partnership concession of the PR-22/PR5 highways has nabbed an award from a prestigious international group, this time from London’s Project Finance International, a global project finance intelligence source and a unit of Thomson Reuters Professional Publishing.
Metropistas, the consortium of companies that is now running PR-22 and PR-5, will use the public-private partnership agreement established with the government as the model to possibly secure similar deals in the U.S. mainland, company officials said Monday.
Autopistas Metropolitanas de Puerto Rico, the consortium the government selected in June to assume the management, maintenance and operation of PR-22 and PR-5, will take the driver’s seat today, vowing to turn the heavily transited toll highways into world-class roads.
Following a lengthy evaluation process, the government will announce Monday the winner of the concession to manage one of the island’s principal highways, and a secondary road, Puerto Rico Public-Private Partnerships Authority Executive Director David Álvarez told a small group of journalists Thursday.
New York-based investment banking firms Goldman Sachs and Morgan Stanley are apparently dueling over the $1 billion privatization project of PR-22, the 52-mile stretch of highway that runs from San Juan to Arecibo.
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