LAX Automated People Mover Project Wins "Americas P3 Deal of the Year"
Nossaman would like to congratulate Los Angeles World Airports (LAWA) and the City of Los Angeles for winning the Americas P3 Deal of the Year award from Project Finance International—a Thomson Reuters publication.
The award was given for the Automated People Mover (APM) project at Los Angeles International Airport (LAX). The APM project reached commercial close on April 11, 2018 upon Los Angeles City Council’s unanimous approval of a $4.9 billion agreement with the project’s developer, and reached financial close on June 8, 2018. The APM system will include six stations and up to nine electric powered trains, each with four cars, in simultaneous operation. The APM trains will travel on an elevated 2.25-mile long guideway, easing access into and out of the second largest airport in the United States and connecting travelers to LA Metro’s Crenshaw Light Rail Line, intermodal transportation facilities, and a consolidated rental car center. LAWA’s APM is the first APM system to be procured through an availability payment P3 delivery model.