Company is part of consortium that will establish a 50-year toll road in Virginia.
John Laing has bid for its first PPP scheme in the USA. Laing and its consortium partners have submitted a proposal to the Virginia Department of Transportation to establish a 50-year toll road under the Virginia Public Private Partnerships Transportation Act 1995.
The project involving $1bn of funding is designed to enhance the 14 mile Dulles Toll Road which lies between Washington DC and Dulles International Airport. It will also provide a major portion of the financing to extend rail services from the city to the airport.
Chief executive Andy Friend said: “This is our first bid in the developing US PPP market, which we see as offering attractive opportunities over the medium term for a specialist infrastructure developer and investor such as John Laing.”
Laing said its equity commitment would be substantial but would be less than the amount invested in individual major concessions such as the ministry of defence main building and the Chiltern Railways concession.
The other members of the consortium include European toll operator Autostrade Spa and IIG LLC, a transport infrastructure company based in Virginia.