January 27, 2018 / 10:19 AM / 2 years ago

ACS/Hochtief consortium picked for L.A. airport rail project

A jet approaches landing as travelers pass through Los Angeles International Airport (LAX) on the day before Thanksgiving in Los Angeles, California, U.S. November 23, 2016. REUTERS/David McNew

FRANKFURT (Reuters) - A consortium including ACS (ACS.MC) and its German builder Hochtief (HOTG.DE) has been named as the recommended developer for a $1.95 billion rail project at Los Angeles International Airport, Hochtief said on Saturday.

The public-private partnership (PPP) rail project includes planning, financing, construction, and 25-year operation of an automated above-ground transport system connecting parking lots, hire car points and metro light rail stations with the airline terminals at the second-biggest airport in the United States.

The consortium comprises ACS Infrastructure Development, ACS’s Dragados USA, HOCHTIEF PPP Solutions, Hochtief’s Flatiron, Fluor (FLR.N), Balfour Beatty (BALF.L) and Bombardier (BBDb.TO).

ACS Infrastructure Development and HOCHTIEF PPP Solutions each have an 18 percent stake in the consortium.

The project includes the delivery of 44 Bombardier trains. Construction is expected to be completed by early 2023, Hochtief said.

Reporting by Maria Sheahan; Editing by Mark Potter

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