USDOT backs P3 academic center

The US Department of Transportation (USDOT) has announced a $5m grant to support the establishment of a Build America Center at the University of Maryland, aimed at spurring private sector investment.

The US Department of Transportation (USDOT) has announced a $5m grant to support the establishment of a Build America Center at the University of Maryland, aimed at spurring private sector investment.

It will offer educational support to agencies to explore alternative and innovative project financing and delivery, including P3s.

The University of Maryland will work alongside Virginia Tech, Georgia Tech, Purdue and Stanford, which will act as regional leads.

The Build America Bureau’s Morteza Farajian said that the grant would help the “national center to provide best practices and educational workshops to those, particularly in rural, tribal or disadvantaged communities, to enable them to utilize innovative funding, financing and project delivery solutions to advance their shovel-worthy projects”.

Led by Professor Qingbin Cui, the center had its debut meeting yesterday.