Eagle P3
Encyclopedia
Eagle P3 is a public-private commuter rail project involving the Regional Transportation District
and Denver Transit Partners to develop parts of the FasTracks
public transportation program in Denver, Colorado.
, as well as a maintenance facility for commuter rail equipment and an 8.4 kilometres (5.2 mi) segment of the Northwest Corridor. Additionally, the private company is responsible for the operation of the North Metro line and the maintenance of facilities on the Northwest Corridor line. The contract stipulates that the Regional Transportation District owns all assets involved and collects all revenues generated, while Denver Transit Partners assumes all risks involved in the project's operation. In return, the RTD will make monthly payments to Denver Transit Partners, a total of $7.1 billion over the length of the operation. Eagle P3 is the first full DBFOM transit public-private partnership in the United States.
, with Uberior Infrastructure Investments and Balfour Beatty
as the other major partners. Macquarie Group subsequently sold its stake in the project to John Laing plc and Uberior at the financial closing of the contract. Minority partners include Alternative Concepts Inc., Ames Construction, HDR Global Design Consultants, Hyundai-Rotem, Interfleet Technology Limited, Parsons Brinckerhoff
, PBS&J, Systra
and Wabtec
.
On 21 October 2011, Wabtec
signed a $63 million contract with Denver Transit Partners to construct the positive train control
system for the Eagle P3 commuter rail lines. The contract included installation of the signaling and communications systems, a dispatch center and other management services.
Regional Transportation District
The Regional Transportation District, or RTD, was organized in 1969 and is the regional authority operating public transit services in eight of the twelve counties in the Denver-Aurora-Boulder Combined Statistical Area in Colorado. RTD is governed by a 15-member, publicly elected Board of...
and Denver Transit Partners to develop parts of the FasTracks
FasTracks
FasTracks is a twelve-year, $6.5 billion public transportation expansion plan for the Denver-Aurora and Boulder metropolitan areas in Colorado, USA, developed by the Regional Transportation District...
public transportation program in Denver, Colorado.
Terms
Under the terms of Eagle P3, a private company is responsible for designing, building, partially financing, operating and maintaining (DBFOM) two commuter rail corridors, the East Corridor and the Gold LineGold Line (RTD)
The Gold Line is a planned commuter rail line between Denver Union Station and Wheat Ridge, Colorado.The Gold Line is part of the FasTracks project, and will be operated by Denver Transit Partners as part of the Eagle P3 public-private partnership...
, as well as a maintenance facility for commuter rail equipment and an 8.4 kilometres (5.2 mi) segment of the Northwest Corridor. Additionally, the private company is responsible for the operation of the North Metro line and the maintenance of facilities on the Northwest Corridor line. The contract stipulates that the Regional Transportation District owns all assets involved and collects all revenues generated, while Denver Transit Partners assumes all risks involved in the project's operation. In return, the RTD will make monthly payments to Denver Transit Partners, a total of $7.1 billion over the length of the operation. Eagle P3 is the first full DBFOM transit public-private partnership in the United States.
Private partner selection
The process of selecting the private sector company involved in Eagle P3 began in August 2008, when the RTD issued a request for qualifications, to which three companies responded. In September 2009, a request for proposal was sent to each company; the RTD received two technical proposals in April 2010, followed by two final proposals in May. Out of these, the RTD in June awarded the contract to Denver Transit Partners, a consortium led by Fluor Corporation and Macquarie GroupMacquarie Group
Macquarie Group Limited is a global investment banking and diversified financial services group, providing banking, financial, advisory, investment and funds management services to institutional, corporate and retail clients and counterparties around the world...
, with Uberior Infrastructure Investments and Balfour Beatty
Balfour Beatty
Balfour Beatty plc is a British construction, engineering, military housing, rail and investment services company. It is one of the largest construction companies in the UK, and the 15th largest in the world...
as the other major partners. Macquarie Group subsequently sold its stake in the project to John Laing plc and Uberior at the financial closing of the contract. Minority partners include Alternative Concepts Inc., Ames Construction, HDR Global Design Consultants, Hyundai-Rotem, Interfleet Technology Limited, Parsons Brinckerhoff
Parsons Brinckerhoff
Parsons Brinckerhoff is a professional services firm with 14,000 employees in 150 offices providing construction and operation management, planning, design, engineering, program management, strategic consulting, environmental and sustainability services for clients and communities in the Americas,...
, PBS&J, Systra
Systra
SYSTRA is an international engineering and consulting group specializing in rail and public transport. SYSTRA is known worldwide for its work in transport modes that offer a sustainable alternative to cars and trucks...
and Wabtec
Wabtec
Wabtec Corporation is an American company formed by the merger of the Westinghouse Air Brake Company and MotivePower Industries Corporation in 1999....
.
Finances
The project is expected to cost about $2.1 billion, consisting largely of two sources: Denver Transit Partners will contribute about $1.3 billion, of which $450 million had been raised by September 2011, and a federal grant of $1 billion, announced on 31 August 2011, will cover the remainder. The involvement of a private sector company is estimated to save about $300 million in construction costs compared to estimates of the cost if the RTD were solely responsible for the project.Construction
Eagle P3 is scheduled to be completed in two phases. Phase one includes the construction of the East Corridor and a part of the section of the Northwest Corridor included in Eagle P3, as well as the maintenance facility. Also undertaken during this phase is the design work for the Gold Corridor and the remaining part of the Northwest Corridor included in Eagle P3, the purchase of rolling stock and the electrification of trackage in Denver Union Station. The second phase of the project is the construction of the Gold and Northwest Corridors that were designed during phase one. Construction of the East Corridor began in August 2010 and the groundbreaking for the Gold Corridor took place in August 2011. Completion of the East and Gold Corridors is expected in 2015 and 2016, respectively.On 21 October 2011, Wabtec
Wabtec
Wabtec Corporation is an American company formed by the merger of the Westinghouse Air Brake Company and MotivePower Industries Corporation in 1999....
signed a $63 million contract with Denver Transit Partners to construct the positive train control
Positive Train Control
Positive train control is a system of monitoring and controlling train movements to provide increased safety.-Overview:The main concept in PTC is that the train receives information about its location and where it is allowed to safely travel, also known as movement authorities...
system for the Eagle P3 commuter rail lines. The contract included installation of the signaling and communications systems, a dispatch center and other management services.