Puerto Rico names legal team for rail deal

Puerto Rico has appointed legal advisors for its Caguas-San Juan commuter train P3, PPP Bulletin can reveal.

The country’s P3 authority PPPA confirmed that Allen & Overy will team up with local firm Pietrantoni, Mendez & Álvarez to oversee the government’s flagship $400m deal.

The authority received 23 proposals from international firms, seeking to secure the role for the deal.

In addition, the PPPA has also received eight proposals from international and local firms in response to its request for proposals for technical advisors for the project.

For the remainder of this month, the authority will now conclude the selection and engagement of the technical advisors and will continue the financial and technical due diligence and outreach with potential proponents.

Financial consultant KPMG was also appointed to oversee the proposals in June. The request for qualifications for the deal are now expected before the end of the year after the desirability and convenience study was completed and presented to the PPPA board on 17 September.