John Laing consortium recommended for Los Angeles Mass Transit Solution 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 it is a lead equity sponsor in one of two private-sector consortiums, each of which have been recommended to enter into a Private Development Agreement to develop a mass transit solution for the Sepulveda Transit Corridor in Los Angeles, California, USA (the “Project”).
If the 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”). The consortium’s solution has an estimated capital cost of approximately US$6.1 billion.
John Laing is a member of the Los Angeles SkyRail Express (“LASRE”) consortium alongside partners Skanska, BYD Company Ltd., 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.
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.