Consortium Bridging Pennsylvania Partners and the Pennsylvania Department of Transportation (PennDOT) closed last month on a deal to finance the replacement of six of the nine bridges included in the Major Bridge P3 Program.
The consortium will design, build, finance, and maintain I-81 Susquehanna, I-80 Nescopeck Creek, I-78 Lenhartsville, I-80 Lehigh River, I-80 Canoe Creek, and I-80 North Fork. It also will provide related roadway and supporting infrastructure and will work collaboratively with PennDOT to develop the second package of the program under a predevelopment agreement.
Project sponsors will contribute $202 million in equity and raised $1.8 billion in private activity bonds.
Construction will begin in September and will be completed between September 2027 and June 2028. A joint venture consisting of S&B USA Construction and FCC Construction will design and perform the work
The consortium is comprised of Macquarie Capital, the advisory, capital markets, and principal investment arm of Macquarie Group, and S&B USA Concessions, a construction, development, and real estate group.
“Taking a P3 approach to designing, building, financing, and maintaining this essential infrastructure allows PennDOT to accelerate repair and construction on six bridges in critical need of replacement across the commonwealth, which will have direct positive impact on Pennsylvania residents, businesses, and the local economy, with the vast majority of the work being delivered by local Pennsylvania suppliers and contractors,” Sarah Schick, Macquarie Capital head of P3 North America, said.