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INFRASTRUCTURES * USA - Running Out of Money, Cities Are Debating the Privatization of Public Infrastructure
New York,NY,USA -The New York Times, by Jenny Anderson -27 Aug 2008: -- Numerous financial institutions, among them Kohlberg Kravis Roberts, the Carlyle Group, Goldman Sachs, Morgan Stanley, and Credit Suisse, have obtained around $250 billion to fund a bevy of transportation infrastructure projects in the United States and in other countries... Their tactic is becoming increasingly popular in this country as federal, state, and regional governments grapple with growing deficits that have limited their ability to upgrade poor roads, bridges, and airports with taxpayer funds... Florida recently granted approval to a half-dozen groups that included JPMorgan, Lehman Brothers, and the Carlyle Group to solicit a 50- to 75 -year lease on Alligator Alley, a toll road that runs for 78 miles down I-75 in South Florida... Private investors earn back their money by optimizing revenue, either by improving the infrastructure to permit for more vehicles, or by increasing tolls. The American Society of Civil Engineers predicts that the United States must invest a minimum of $1.6 trillion over the coming five years to maintain and widen its infrastructure... As such, certain U.S. pension funds forecast an investment opportunity. However, the return on these investments can take a while... (Photo by Peter Wynn Thompson/The New York Times - Two foreign funds with large portfolios of international investments have gained control of the Chicago Skyway)Labels: infrastructures
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