PR-22 & PR-5
Concession Agreement between Autopistas Metropolitanas de Puerto Rico (“Metropistas”) and Puerto Rico Highways and Transportation Authority. This is the first concession of its type successfully achieved in Puerto Rico along with the Puerto Rico Public Private Partnerships Authority.
On June 20, 2011 the consortium who met all criteria was selected. Among the criteria; the proposal that had more value to the island was chosen. This proposal represents the largest private investment in infrastructure so far this year in the United States. Autopistas Metropolitanas de Puerto Rico, LLC; a consortium composed by Goldman Sachs Infrastructure Partners and Abertis Infrastructures, was selected by the Government of Puerto Rico to bring these highways to world-class standards.
As part of the total investment of $1,436 million, more than $350 million in estimated investment will be for improvements and maintenance of the PR-22 and PR-5. Specifically, an estimated $56 million will be spent immediately, starting this year and over the next three years – in work aimed at rehabilitating and improving the safety of these two highways.
The PR-22 has seven toll stations including Buchanan station along which 25.8 million vehicles in fiscal 2009. The income generated by the highway for that year was $85.1 million through the automated collection system. As part of the contract specifications the private consortium cannot increase tolls until 2014. After 2014 any increase in tolls must be justified by the increase in the cost of life.
Luis Muñoz Marín International Airport
The Luis Muñoz Marín International Airport is located in Carolina, Puerto Rico, just three miles from the capital city of San Juan. It is the busiest airport in the Caribbean and has the largest air cargo operation in Puerto Rico. The most recent demand projections estimate that by 2024 traffic will be at 17.9 million passengers and 1,900 pounds of cargo. The Airport is the main entry point to the Island, both domestically and internationally.
For fiscal year 2009, there were 25 airlines providing service to the airport. Classified by the Federal Aviation Administration (FAA) as an installation of medium activity in the 2008 calendar year, the airport was ranked number 41 nationally in the total movement of passengers, with 4,635,798 boardings (FAA CY 2008 Passenger Boarding (Enplanement) and All-Cargo Report). During fiscal year 2009, the airport handled 222,932 short tons of cargo. The main market for origination and destination (O&D) that serves the airport is Florida, followed by New York and New Jersey.
On December 22, 2009, the Federal Aviation Administration (FAA) accepted the application submitted by the Port Authority regarding the intention to establish a PPP. All documents related to this request are public and can be accessed using FAA code 2009-1144 through www.regulations.gov.