Iridium signs with the State of North Carolina a contract to develop its first infrastructure concession

First Private Public Participation contract for the development of infrastructures signed in North Carolina.
Iridium is to design and execute the project to build and operate an 11 km bridge worth 700 million dollars.

The consortium headed by ACS Infrastructure Development, the US affiliate of the concession developer Iridium, and Dragados has signed a contract with the North Carolina Turnpike Authority (NCTA) to prepare and develop the project for the construction and operation of an 11 km bridge in that state located in eastern USA.

The project, worth 700 million dollars, will consist of the construction of a long bridge going over swamplands and will connect the NC 12 state highway with US interstate 158. Besides building the accesses and turnkey facilities for the bridge, Dragados will be in charge of making improvements along four miles of the NC 12 south of the bridge to facilitate emergency evacuations in the event of hurricanes.

In the summer of 2005 the North Carolina Department of Transportation was authorised to develop projects for the construction of new infrastructures involving private capital. The first of these projects is the Mid-Currituck Bridge.

The first stage of the contract consists of the studies required to implement the concession, and the second stage will include the financing, design, construction, operation and maintenance of the infrastructures. The civil works construction period will last approximately 4 years and the operation period will be 30 to 50 years, to be finally defined during the second stage of the contract..

Back