March 31. A company that was part of a team led by Cintra Concesiones de Infraestructuras and Zachry Construction Corp.—to develop the first phase of the Trans-Texas Corridor—has been selected to review the I-77 Express Lanes contract. NC Transportation Secretary Jim Trogdon said Mercator Advisors will conduct an in-depth, outside review.
Mercator has not been involved in the $650 million project as outlined in a 50-year contract between Cintra and NCDOT. Mercator provides a wide array of financial consulting services to public agencies that sponsor major infrastructure projects and capital assistance programs. Mercator’s clients include federal, state and local governmental agencies.
N.C. Turnpike Authority staff will facilitate the review process. NCTA was not part of the original I-77 contract negotiations.
The Trans-Texas project, in addition to Cintra and Zachry, included Ferrovial-Agroman, the Spain-based parent of Cintra; Mercator Advisors; PriceWaterhouse; and JP Morgan.
The Texas project was initially proposed in 2001 and after considerable controversy was discontinued by 2010 in the planning and early construction stages.