The North Perimeter Contractors consortium has won the $679m contract and will now design, build and partially finance the road.
The team is a partnership between contractor Ferrovial Agroman US Corp and engineering firms the Louis Berger Group and Neel-Shaffer.
Final selection was weighted 80% on price and 20% on technical capabilities, which included, project management, traffic management, schedule, and disadvantage business involvement, according to the Georgia Department of Transportation (GDOT).
The original valuation of the 285/400 Reconstruction Project anticipated a total cost of $1.1bn, however, through the P3 procurement model, GDOT has selected the winning bid of $460m.
The project will be funded through a combination of federal, state, Perimeter CIDs, and private sector funds provided by North Perimeter Contractors.
The project now remains in active procurement until a final agreement is executed in January next year.
North Perimeter Contractors beat off bidders including Balfour Beatty and Parsons, which were also shortlisted in February.
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