We Congratulate Los Angeles World Airports on their Global Project Wins
Nossaman would like to congratulate Los Angeles World Airports (LAWA) and the City of Los Angeles for winning P3 Bulletin's Transport PPP of the Year award and Global PPP of the Year award for its Automated People Mover (APM) project. The project was honored at P3 Bulletin’s inaugural Global PPP Awards gala in Madrid, Spain. The gala was a component of the PPP 2025 hub, which took place June 4-5 and saw a total of 22 projects shortlisted for consideration.
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. It 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.
The APM project has earned numerous industry recognitions over the past year, having been named as Project Finance International’s Americas P3 Deal of the Year, IJ Global’s North American PPP Deal of the Year, P3 Bulletin’s Best Transit Project—Americas, and the National Council For Public-Private Partnerships’ (NCPPP) Outstanding Emerging Project. Additionally, LAWA CEO Deborah Flint was honored with the NCPPP’s Excellence in Public Leadership award.
For more info on the awards, click here (subscription required).