A German consortium apparently has won a $1-billion concession to run San Francisco’s Presidio Parkway project for 33 years. The state of California, the California Dept. of Transportation and the San Francisco County Transportation Authority issued a notice of intent to sign a public-private partnership deal with Essen, Germany-based Hochtief Concessions. Meridiam Infrastructure, Luxemburg, is Hochtief ’s 50% partner on the Golden Gate Bridge southern access project’s design, construction, finance, operation and maintenance. The consortium’s construction team is led by Hochtief subsidiary Flatiron. The German firm set up Hochtief PPP Solutions North America in 2009 to bid on PPP projects
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.