Texas Toll Road Failure Raises Question Of PPP Viability
The SH130 public private partnership toll road in Texas has filed for Chapter 11 bankruptcy protection.
A toll road in Texas declared bankruptcy last week, raising concern about tolling’s long-term viability. The 41-mile State Highway 130 project was the Lone Star State’s first public private partnership tolling deal, which served as a symbol of the Texas Department of Transportation’s overall plan to add toll booths to every freeway. It flopped.
“Traffic on the facility has been lower than expected,” the tolling company explained. “As a result the current debt repayment schedule between SH 130 Concession Company and our lenders is unsustainable. SH 130 Concession Co. filed for …
Read the full article at: http://www.thenewspaper.com/news/49/4914.asp