Following internal evaluation, VDOT has today notified the market of a 90 day period for receipt of alternative proposals, prior to initiation of further procurement steps under the Act.

The project, involving over US$1 billion of total funding and a proposed 50 year concession, is targeted to enhance the operation of the 14 mile Dulles Toll Road (“DTR”), which lies between Washington DC and Dulles International Airport, and to provide a major portion of the financing to extend rail services from the city to the airport.

The DTR is an existing road with an established patronage record derived from 20 years of operation in a region that continues to experience substantial growth.

The other members of the DCMI consortium that has submitted the bid include Autostrade Spa, the leading European toll road operator, and IIG LLC, a transport infrastructure development company based in Virginia.

Autostrade Group, through its wholly owned subsidiary Autostrade International of Virginia O&M, Inc. already operates and maintains the Dulles Greenway in Virginia. Among the DCMI consortium Autostrade will be responsible for the operations and maintenance of the DTR.

Commenting on the announcement, Andy Friend, Chief Executive, said:

“This is our first bid in the developing US PPP market, which we see as offering attractive opportunities over the medium term for a specialist infrastructure developer and investor such as John Laing.

The DCMI consortium project is capable of delivering substantial transport benefits to the Commonwealth of Virginia and we are very pleased to be working with such a strongly placed local consortium and an established toll road operator.  Laing Roads has already made a successful entry with local partners into the European PPP roads market and we are pleased to be entering another exciting growth market for infrastructure investment on a similar basis”

If the current proposal is successful, John Laing Plc’s equity commitment will be substantial but is unlikely to be greater than the amount the group has previously invested in individual major concessions such as the Ministry Of Defence Main Building, London, and the Chiltern Railways concession.

For more information:

John Laing plc

Andy Friend, Chief Executive, John Laing Plc

020 7901 3200

Finsbury Group

Edward Orlebar/Robin Walker

020 7251 3801