Historically, the Pennsylvania Turnpike is credited with being the
Recent talks of funding shortfalls and profit studies, particularly on
an unfinished 100-mile stretch of the Mon-Fayette Expressway, could mean at
least part of the turnpike is headed for privatization.
The Pennsylvania Turnpike Commission has OK’d a study by Australian
toll operator and banking conglomerate Macquarie Group of Sydney, on whether the road could be
profitable, commission officials told local media.
Macquarie is funding the study on its own dime as
struggles with a $3 billion
funding shortfall in turnpike construction.
Gov. Ed Rendell’s administration has talked with private investors
before, according to The Associated Press,
on topics that include the possible lease of the turnpike.
Macquarie is a principal in several privatization deals for
Partnered with Cintra from
under the name ITR Concession Co., Macquarie
holds half of the lease to the
. ITR paid $3.85 billion for the right to
operate the toll road and collect the tolls for 75 years.
Macquarie, in a recent move to appease shareholders, put a portion of
assets, which also
include the Chicago Skyway and the Dulles Expressway near Washington,
up for sale to a U.S.-based subsidiary in an effort to shed the moniker of “foreign” investor.
Any possible future deals in
would have to go through the General Assembly and the bidding process would
have to remain open to other companies, according to the Pennsylvania DOT in
local media reports.