Delays in the $900-million Pennsylvania Rapid Bridge Replacement Project project undertaken by Plenary Walsh Keystone Partners LLC led to a global settlement with the Pennsylvania Dept. of Transportation in January to change the expected substantial project completion date from December 2017 to November 2018. According to a Standard & Poors report, the delays were due to the private sponsors underestimating the logistical challenges of repairing or replacing 588 disparate bridges, mostly in rural areas, and a slow approval process by the state. In this case, a settlement between the P3 and the state reset the contractual schedule and secured additional funds for the developer to ensure that the project will be completed on the revised schedule. Plenary’s bid proposal was selected partly because its design-build team, HDR/Walsh, guaranteed to complete the work in 42 months, eight months sooner than PennDOT’s estimate.
Download Sample Issue
PWF Subscription Options
- Public Works Financing - Enterprise-wide Corporate Subscription From: $450.00 / month with 1 month free trial
- Public Works Financing - Individual Corporate Subscription From: $120.00 / month with 1 month free trial
- Public Works Financing - Government or Non-profit Subscription $60.00 / month with 1 month free trial