A consortium led by ACS/Hochtief has been chosen as the developer for a modernisation rail project under public-private partnership (PPP) at Los Angeles International airport.
The consortium comprises ACS Infrastructure Development (Iridium), Dragados USA, Hochtief PPP Solutions, Flatiron, Fluor, Balfour Beatty and Bombardier.
The project includes planning, financing, construction, as well as 25-year operation of an automated people mover located 15 to 20 metres above ground, which will have six stops connecting new parking facilities, hire car points and metro light rail stations with the airline terminals.
A 3.6km track on which nine trains will be able to travel simultaneously will improve access to the terminals of the airport.
The $1.95bn (€1.57bn) project includes delivery of the 44 Bombardier APM vehicles.
ACS Infrastructure Development and Hochtief PPP Solutions each will have an 18% stake in the consortium (ACS Group 36%).
Commercial close for the project is targeted for April 2018 and financial close for June 2018. Construction is expected to be completed by early 2023.
The ACS Group is involved in several rail projects, including the $1.2bn High-Speed Rail link between Los Angeles and San Francisco in the US, and the CAD5.5bn ($4.45bn) Eglinton Crosstown LRT PPP in Ontario and the CAD2.0bn ($1.61bn) Confederation Line LRT PPP in Ottawa, both in Canada.
Among other projects in Australia, Hochtief’s subsidiary CIMIC is involved in the AUD700m Canberra Light Rail PPP, a 7-year operations and maintenance contract worth AUD1.9bn for the Melbourne suburban train network, and the AUD3.7bn contract to deliver the North West Rail Link.
The €200bn pipeline is also one of the PPP infrastructure projects identified for the 2018-21 period in key markets such as the US, Australia, Canada and Europe.
The ACS Group is also involved in airport projects. In 2017, Hochtief subsidiaries Flatiron and Turner own a project to expand Denver International Airport worth up to $700m.