Perdue to tour Europe — and look at private roads
Wednesday, September 24th, 2008In this week’s paper, CL takes a look at privatized roads, an increasingly popular practice in which a for-profit company takes control of or builds a new road, raises tolls, and usually makes a jaw-dropping windfall from the agreement. States love ‘em because they get a big bag o’ cash upfront that they can in turn invest in other projects. Sounds attractive but they’re rife with risk.
We received word from a trusted tipster that Perdue would meet with executives from Cintra, a Spanish company considered a global leader in privatized roads, during an upcoming jaunt to Europe sponsored by the state’s Department of Economic Development. At press time, department officials weren’t able to confirm if that was the case.
Now they can. From the governor’s office:
The Madrid portion of the trip includes a number of transportation-related meetings, including a visit with executives from Cintra, a Spanish company that is a world leader in developing transportation infrastructure. The delegation will also tour two Spanish public/private road projects and meet with SEOPAN, the Spanish Transportation Association. Governor Perdue will also call on a number of Spanish companies in the region.
Full release follows after the jump.
