VDOT issues I-66 draft RFP

Draft RFP issued for I-66; landmark project dates revealed

The Virginia Department of Transportation (VDOT) has now issued the draft request for proposals for the Transform 66 highway P3.

The RFP has now been issued to the three teams that submitted qualifications for a revenue risk concession delivery method after being approved as a P3 by the Commonwealth Transportation Board earlier this month.

Under the terms of the RFP, the bidding teams will be responsible for the design, construction, financing, operation and maintenance of the project. 

As stated in the RFP, the principal source of revenue that will be available to the developer is expected to be toll revenue from users of the Express Lanes. 

The Department also anticipates a maximum of $600m of public contribution by the Commonwealth. VDOT has also applied for a provisional Private Activity Bonds allocation and submitted a letter to TIFIA.

Bidders will now have until July 26, 2016 to submit technical proposals, before a deadline for financial bids on August 23.

VDOT has then earmarked the selection of a preferred bidder for September 13, with financial close expected April 28, 2017.

Teams including Skanska, Cintra and InfraRed Capital were all shortlisted for the plans in October.

For more information on the RFP, click here.