CORRECTION FROM SOURCE: Kapsch TrafficCom Secures 50-year Tolling Contract for Louisiana Bridge Project

Rhea-AI Summary

Kapsch TrafficCom has secured a 50-year tolling contract for the Interstate 10 Calcasieu River Bridge project in Louisiana, valued at USD 230 million. This Public-Private Partnership (P3) initiative, led by the Louisiana Department of Transportation and Development and Calcasieu Bridge Partners, aims to improve traffic on the I-10 corridor in Lake Charles. Kapsch TrafficCom will provide end-to-end tolling services as the Tolling Contractor and System Integrator.

The overall I-10 Project, valued at over USD 2.1 billion, includes constructing a new bridge, interstate corridor improvements, ramps, interchanges, and service roads. Kapsch TrafficCom will implement its Roadside and Backoffice systems, including operational support and customer service. The tolling system will commence operations after the bridge opens to traffic.

Positive

• Secured a 50-year tolling contract worth USD 230 million
• Part of a larger USD 2.1 billion infrastructure project
• Providing end-to-end tolling services, including Roadside and Backoffice systems
• Leveraging existing deployments in Louisiana for synergy
• Long-term contract duration indicates confidence in Kapsch TrafficCom's technology and expertise

Negative

• None.

The previous version wrongly referenced Duluth, MN, instead of the correct Duluth, GA, in the dateline.

• Significant Public Private Partnership infrastructure initiative led by the Louisiana Department of Transportation and Development

• Valued at USD 230 million over a period of fifty years

DULUTH, GA / ACCESSWIRE / August 20, 2024 / Kapsch TrafficCom announces the Financial Close, and selection as the Tolling Contractor for the Interstate 10 Calcasieu River Bridge project in Louisiana (I-10 Project). The I-10 Project is another significant Public Private Partnership infrastructure initiative led by the Louisiana Department of Transportation and Development (LADOTD) and Calcasieu Bridge Partners (CBP).

The Consortium is led by Kapsch TrafficCom long-time partner Plenary Americas. Kapsch TrafficCom will provide its end-to-end tolling services, as the Tolling Contractor and System Integrator to CBP and to the LADOTD.

The Tolling portion of the I-10 Project, valued at USD $230 million over a period of fifty years, involves a public-private partnership (P3), a collaborative arrangement where the state government and private sector companies invest to develop critical public infrastructure projects. The I-10 Project aims to significantly improve traffic on the vital I-10 corridor in Lake Charles, and represents an advancement in infrastructure, safety, reliable mobility, and economic growth for drivers and industry within the entire Southwest Louisiana region.

JB Kendrick, President at Kapsch TrafficCom North America, explains: "We are honored to be part of such a transformative project that will have a lasting impact on Louisiana's landscape. The 50-year contract duration is exceptional and underscores the confidence in our technology and expertise to support this vital corridor's long-term success. Adding I-10 to our current LA1 and Belle Chasse projects continues to provide synergy for the road users throughout the region, marking a significant milestone in our efforts to enhance Louisiana's transportation infrastructure."

The I-10 Project, valued at more than USD 2.1 billion, involves the construction of a new bridge, interstate corridor improvements, ramps, interchanges, and service roads over the Calcasieu River in the Lake Charles region of Louisiana. Kapsch TRafficCom is providing its Roadside and Backoffice systems, including operational support with walk-up and customer service for this important project.

Kapsch TrafficCom: At the Forefront of Innovation

Leveraging Kapsch TrafficCom's current deployments in Louisiana with Belle Chasse and LA1, the I-10 Calcasieu River project will also utilize the Kapsch TrafficCom comprehensive commercial back office and operations staff for the next five decades. The tolling system is designed to commence after the bridge opens to traffic, ensuring efficient and seamless toll collection.

More information: Press | Kapsch TrafficCom

Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility with successful projects in more than 50 countries. Innovative solutions in the application fields of tolling, tolling services, traffic management and demand management contribute to a healthy world without congestion.

With one-stop-shop-solutions, the company covers the entire value chain of customers, from components to design and implementation to the operation of systems.

Kapsch TrafficCom, headquartered in Vienna, has subsidiaries and branches in more than 25 countries and is listed in the Prime Market segment of the Vienna Stock Exchange (ticker symbol: KTCG). In its 2023/24 financial year, about 4,000 employees generated revenues of EUR 539 million.

Press contact:
Carolin Treichl Executive Vice President Marketing & Communications Kapsch TrafficCom AG Am Europlatz 2, 1120 Vienna, Austria P +43 50 811 1710 carolin.treichl@kapsch.net	Sandra Bijelic Head of Corporate Communications Kapsch TrafficCom AG Am Europlatz 2, 1120 Vienna, Austria P +43 664 628 1720 sandra.bijelic@kapsch.net

Further information: www.kapsch.net/ktc
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SOURCE: Kapsch TrafficCom AG

View the original press release on accesswire.com

FAQ

What is the value of Kapsch TrafficCom's tolling contract for the I-10 Calcasieu River Bridge project?

Kapsch TrafficCom's tolling contract for the I-10 Calcasieu River Bridge project is valued at USD 230 million over a period of fifty years.

How long is the duration of Kapsch TrafficCom's tolling contract for the Louisiana I-10 project?

Kapsch TrafficCom has secured a 50-year tolling contract for the Interstate 10 Calcasieu River Bridge project in Louisiana.

What services will Kapsch TrafficCom provide for the I-10 Project in Louisiana?

Kapsch TrafficCom will provide end-to-end tolling services as the Tolling Contractor and System Integrator, including Roadside and Backoffice systems, operational support, and customer service.

When will the tolling system for the I-10 Calcasieu River Bridge project become operational?

The tolling system for the I-10 Calcasieu River Bridge project is designed to commence operations after the bridge opens to traffic.