OHL and Astaldi win California highway contract

Contractors OHL and Astaldi has won a major portion of a large highway project in California. The work is for the upgrade to I-405 in Los Angeles and is valued at US$ 1.2 billion. The two firms will work in a joint venture on the project. OHL has a 60% stake in the project while Astaldi holds the remaining 40% share. The deal represents a positive move for Astaldi, which is keen to develop its presence in the western US. The six year contract requires the design and construction of the improvement works
November 15, 2016 Read time: 2 mins
Contractors 980 OHL and 1324 Astaldi has won a major portion of a large highway project in California. The work is for the upgrade to I-405 in Los Angeles and is valued at US$ 1.2 billion. The two firms will work in a joint venture on the project. OHL has a 60% stake in the project while Astaldi holds the remaining 40% share. The deal represents a positive move for Astaldi, which is keen to develop its presence in the western US.

The six year contract requires the design and construction of the improvement works for 22km of the interstate. The complexity of the works, which also includes the construction of 35 bridges, is accentuated by the need to maintain the infrastructure in operation for the entire duration of the activities.

The works have been commissioned by the OCTA Orange County Transportation Authority. Financing is being delivered through a combination of local, state, and federal funds.
Finance & Funding Road Structures

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