Winner emerges on Denver light rail
6 July 2012
A preferred bidder has been identified for Denver's I-225 light rail transit scheme in the US.
Denver's Regional Transportation District's (RTD) staff have recommended the board consider signing a contract with Kiewit Infrastructure to build the I-225 light-rail line, part of the FasTracks project, between Parker Road and Interstate 70.The company proposed building the 10.5-mile line in March for $350m with a consortium including Mass. Electric Construction, AECOM, and RBC Capital Markets.
A rival bid was invited from Balfour Beatty Ames Joint Ventures which includes Scotiabank Global Banking and Markets, Orrick, Herrington & Sutcliffe, and Bank of America Merrill Lynch Global Markets.
RTD said it can pay for the line by issuing between $350m and $500m in bonds, to be repaid via existing sales-tax revenues.
RTD's board will consider the staff recommendation on 10 July, and is expected to vote on the recommendation on 17 July. If the committee approves the proposal, the full board will vote on it on 24 July.
