Macquarie to Advise San Juan, Puerto Rico, on Light-Rail P3

WASHINGTON — Australia-based infrastructure development giant Macquarie Capital will advise San Juan, Puerto Rico, in its quest to put together a light-rail public-private partnership that has been estimated to cost $400 million, the city announced Monday.

The Satour Project, for which Macquarie will solicit proposals, would be 5.3 miles of light rail that "seeks to reinvigorate the economic engine for the region by connecting the Isleta, a small island, which is currently connected by a four-lane bridge, to a dynamic urban area that includes several districts, neighborhoods and employment, residential and recreational clusters," the city said in a statement.

Mayer Brown, a Chicago law firm that acted as counsel on the FasTracks Eagle P3 commuter rail expansion project near Denver, will provide advice on all legal issues pertaining to the project.

Both firms will help San Juan with obtaining and evaluating bids from companies that want to be a private partner with the city on the project.

The proposed line would run along a corridor that the city has been looking to further develop for years.

Macquarie has a history with the financially troubled island, having served in a similar advisory role on the lease of two highways, the PR-22 and PR-5.

Macquarie globally advised on 547 transactions valued at $150 billion in fiscal year 2011, according to information on the company's website.

San Juan will host an industry outreach event Sept. 5-7 at the city's Sheraton Convention Center.

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