Denver Eagle P3 Celebrates 5 Year Anniversary
John Laing Group plc ("John Laing" or the "Group"), the responsible investor and active manager of infrastructure projects internationally, is pleased to announce the 5-year anniversary of the commencement of operations on the University of Colorado A Line of the Regional Transportation District’s Denver Eagle P3 project (the “Project”) in Denver, Colorado.
The investment in Denver Eagle in 2010 marked John Laing’s first investment in the US P3 market and was the country’s first public-private partnership transit project. The Project consists of the design, build, finance, operations and maintenance of three new commuter rail lines to expand transit across the Denver metropolitan area, including the connection between Denver International Airport to Denver Union Station. This includes approximately 40 miles of commuter rail transit lines, rolling stock, a commuter rail maintenance facility, and systems and track improvements to Denver Union Station.
As a 45% equity owner in Denver Transit Partners and active investor, John Laing appointees hold key positions within the Project, including the Chief Executive Officer, Doug Allen, a John Laing secondee, as well as at board level.
The Group has played an active role in the successful delivery of the Project through construction and into operations. In conjunction with the B and G Lines, the project has now been in full operations since April 2019 and officially concluded the construction phase and entered the operating phase with the issuance of the Last Final Completion Certificate for the G Line in December 2020.
The project has maintained its excellent performance and operational record through the COVID-19 pandemic with all three commuter lines averaging 99% reliability in 2021 year to date.
The Project is designed to help reduce congestion and provide a safe, affordable and reliable transport option for the 2.8 million people living in Denver’s growing metropolitan area. Since the beginning of operations, A Line’s annual ridership has grown from approximately 4 million annual passenger trips in 2016 to just under 8 million in 2019. During the COVID-19 pandemic, it has held the highest level of commuter rail ridership retention in the United States at approximately 45% of pre-pandemic figures according to a recent study.
Denver Transit Partners (DTP) has had a strong focus on local procurement with over 250 local staff and 26 individual small business enterprise (SBE) firms subcontracted. Along with other 43 SBE firms utilized to procure goods and services, Denver Transit Operators’, a subcontractor to DTP, current SBE participation is 15.8% which translates to approximately $31.5m contribution to the local SBE community project to date. The Project has also contributed to economic growth in the region: the direct impact to the economy of the construction phase was approximately $2bn and the indirect impact to the metro Denver area has been approximately $8bn.
Commenting on the anniversary Anthony Phillips, John Laing’s Co-Head of PPP & Greenfield Projects, said:
‘I’m delighted to celebrate this five-year anniversary with the John Laing team and our partners. Prior to the COVID-19 pandemic, the Project had daily average ridership in excess of 27,000 and though ridership has seen declines since then, the Project has maintained the highest percentage of passenger boardings and revenue vehicles miles of any rail commuter line in the country during the pandemic. This is a testament to the exceptional performance of the project and the public’s view of the value it brings. This anniversary represents a great, on-going success for John Laing, our partners and Denver’s travelling public’
About John Laing plc
John Laing is a leading international investor across a range of infrastructure sectors. We seek to deliver attractive and sustainable returns over the medium-term. We are a responsible investor, committed to delivering critical and enduring infrastructure which responds to public needs and improves the lives of the communities we serve.
John Laing has operations in seven countries around the world, and invests in the UK & Europe, North America, Latin America and Australia. We invest in greenfield projects and in businesses which develop and own infrastructure assets. We have invested in over 150 projects and businesses to date, across a range of sectors, including transport, social infrastructure, energy transition, accommodation and digital infrastructure.