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| Skanska signs agreement for a potential PPP project in the U.S. Skanska, its partners and the Virginia Department of Transportation (VDOT) have entered into an Interim Agreement under which Skanska will conduct a feasibility study and prepare proposals regarding the Public Private Partnership (PPP) development project Downtown Tunnel/Midtown Tunnel/Martin Luther King Freeway (MLK) Extension project in Virginia in the U.S. The Skanska-led team will conduct a feasibility study and prepare design, engineering, construction, operations, tolling and financing proposals required for delivery of the project located in southern Virginia. The agreement grants Skanska, as part of the Elizabeth River Crossings consortium, the exclusive right to develop and implement the financing, construction and long-term operation of the project should it proceed as a PPP. VDOT and the consortium have agreed to share the cost of development up to the execution of a comprehensive agreement for the project. The feasibility study, project development activities and negotiations are expected to be conducted during 2010 and 2011. write your comments about the article :: © 2010 Construction News :: home page |