ACS/Hochtief consortium picked for L.A. airport rail project

[January 27, 2018]  FRANKFURT (Reuters) - A consortium including ACS <ACS.MC> and its German builder Hochtief <HOTG.DE> has been named as the recommended developer for a $1.95 billion rail project at Los Angeles International Airport, Hochtief said on Saturday.

A jet approaches landing as travelers pass through Los Angeles International Airport (LAX) on the day before Thanksgiving in Los Angeles, California, U.S. November 23, 2016. REUTERS/David McNew

The public-private partnership (PPP) rail project includes planning, financing, construction, and 25-year operation of an automated above-ground transport system connecting parking lots, hire car points and metro light rail stations with the airline terminals at the second-biggest airport in the United States.

The consortium comprises ACS Infrastructure Development, ACS's Dragados USA, HOCHTIEF PPP Solutions, Hochtief's Flatiron, Fluor <FLR.N>, Balfour Beatty <BALF.L> and Bombardier <BBDb.TO>.

ACS Infrastructure Development and HOCHTIEF PPP Solutions each have an 18 percent stake in the consortium.

The project includes the delivery of 44 Bombardier trains. Construction is expected to be completed by early 2023, Hochtief said.

(Reporting by Maria Sheahan; Editing by Mark Potter)

[© 2018 Thomson Reuters. All rights reserved.]

Copyright 2018 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.