John Laing Consortium Enters into Pre-development Agreement for Los Angeles Mass Transit Soluton Project
John Laing Group plc ("John Laing" or the “Group"), the responsible investor and active manager of infrastructure projects internationally, is pleased to announce that Los Angeles SkyRail Express (“LASRE”) has entered into an agreement (the “Agreement”) with the Los Angeles County Metropolitan Transportation Authority (“LA Metro”) to pre-develop a mass transit solution for the Sepulveda Transit Corridor in Los Angeles, California, USA (the “Project”). John Laing is a lead equity sponsor in LASRE.
The signing of the Agreement is the culmination of a 20-month long bid process during which LASRE presented its credentials and solution to LA Metro. If the pre-development is successful, the Project may be delivered as an availability-based Public Private Partnership (“PPP”) with the Los Angeles County Metropolitan Transportation Authority (“LA Metro”).
Anthony Phillips, Co-Head of PPP and Greenfield Projects for John Laing, said “We are delighted to be working hand-in-hand with LA Metro over the coming years to further develop and deliver the solution for the benefit of the communities of Los Angeles.”
John Laing is a member of the Los Angeles SkyRail Express (“LASRE”) consortium alongside partners Skanska, BYD Transit Solutions LLC, HDR Engineering, Inc., Alternate Concepts, Inc., M. Arthur Gensler Jr. & Associates, Inc, and Innova Transportation LLC. For over a decade, John Laing has been a leader in developing and financing transit PPP projects in North America, beginning with the Denver Eagle P3 and most recently the Hurontario Light Rail Transit and Boston MBTA Fare Collection projects.
The Project is a response to the significant congestion on the Sepulveda Transit Corridor, through which over 400,000 people travel per day. The LASRE Consortium’s proposed solution is a state-of-the-art, advanced, high speed, high-capacity monorail, SkyRail, that will connect the San Fernando Valley and the Westside, with potential extension to LAX.
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.