The Los Angeles International Airport (LAX) Automated People Mover (APM) was recognized as the "North American PPP (Public-Private Partnership) Deal of the Year" by IJGlobal, a leading online database of infrastructure and project finance transactions and one of the world’s most-respected infrastructure news sites. The award was presented during a ceremony last week at the Mandarin Oriental Hotel in New York City.
“It is gratifying to learn that industry leaders are as excited as we are about the people mover project and advancing mega project delivery through the P3 deal, which will create a new front door to LAX and provide better, more efficient service to our guests,” said Deborah Flint, Chief Executive Officer, LAWA. “LAWA is leading the way with our innovative P3 approach to financing and development of our major infrastructure projects, and we thank IJGlobal for recognizing us as the Public-Private Partnership deal of the year. We also thank the team at Nossaman LLP, which has been our legal counsel and advised LAWA on the P3 process.”
LAX Integrated Express Solutions (LINXS), whose members include Fluor, Balfour Beatty, ACS Infrastructure Development, Dragados USA, HOCHTIEF PPP Solutions, Flatiron, Bombardier Transportation, HDR and HNTB, was selected to deliver the APM on a 30-year design-build-finance-operate-maintenance (DBFOM) contract. Nossaman, LLP provided legal counsel on this award-winning project and continues to work with LAWA on other facets of LAMP, such as the Consolidated Rent-A-Car Center (ConRAC), which will be the world’s largest consolidated rental car center when completed.
“This project breaks new ground for financing in the U.S. It is the first time that a DBFOM model has been used for a transport system of this nature at a U.S. airport," said Ila Patel, Americas Editor, IJGlobal, who is one of the judges.
The panel of judges that selected LAWA for this honor incudes industry leaders from the financing/infrastructure field.
IJGlobal’s clients include equity providers, funds, institutional investors, lenders, multilaterals, and governments and advisers. The organization works with 80 percent of the top project finance lenders, 90 percent of the top law firms, and 85 percent of the top financial advisers in the infrastructure industry.
A groundbreaking ceremony for the APM was held earlier on Thursday. It is the largest piece of the LAMP program, which will also include a Consolidated Rent-A-Car Center (ConRAC) that is also being developed as a P3 project. The APM will have three stations outside the Central Terminal Area and three stops inside the airport, providing a 10-minute ride from end-to-end along its 2.25-mile elevated track. It is slated to open by March 2023.
Brian Ostler, Deputy City Attorney, LAWA, accepted the award at last Thursday night’s ceremony.
