The joint venture team of LAX Integrated Express Solutions (LINXS) has achieved financial close on the $4.9bn, 2.25-mile Los Angeles International Airport (LAX) Automated People Mover (APM) project for the Los Angeles World Airports (LAWA).
The LINXS team, comprising Fluor Corporation, Balfour Beatty, ACS Infrastructure Development, Bombardier Transportation, Dragados USA, Flatiron and Hochtief PPP Solutions, will design, build, finance, operate and maintain the project over the 30-year concession period.
While Balfour Beatty, Fluor, ACS Infrastructure Development, Hochtief PPP Solutions and Bombardier Transportation are participating in the project at the equity level, Balfour Beatty, Fluor, Dragados USA and Flatiron are participating at the design-build joint venture level. Fluor is the managing partner of the design-build joint venture team.
The financing includes $1.2bn in private activity bonds, nearly $270m in bank debt and private partner equity.
The contract includes milestone payments for design and construction progress, availability payments for capital repayment and operating and maintaining the automated people mover.
Design and construction are scheduled to begin later in 2018 and passenger service is slated for 2023.
The APM is a key component of LAWA’s multi-billion-dollar Landside Access Modernisation Programme (LAMP).
Six stations will be constructed along the 2.25-mile guideway where driverless vehicles will arrive to transport passengers every two minutes during peak periods. Nine trains will be operated simultaneously.
The project includes construction of parking garages and an on-site APM maintenance facility to ensure unhindered operations.
The design is intended to reduce vehicle congestion and emissions in the terminal loop. Pedestrian access will be improved by moving walkways to the terminals and parking garages.
The new line will have a capacity of transporting up to 10,000 passengers per hour. LAWA expects the new line to carry 85 million passengers per year.
After the construction, LINXS Operators, consisting of Fluor, ACS Infrastructure Development, Bombardier and Hochtief, will provide operations and maintenance services for 25 years.