Puerto Rico Announces Advisors for P3 Projects

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A Puerto Rico authority announced advisors for four projects under evaluation as priority public-private partnerships.

The Puerto Rico Public-Private Partnerships Authority is prioritizing a new women's correctional facility, a new men's correctional facility, conversion of the Puerto Rico Electric Power Authority's power plants to natural gas, and a commuter train from Caguas to San Juan.

For the male and female correctional facilities, the authority has picked Aird & Berlis LLP as the legal advisor and Caribbean Project Management as the technical advisor in the procurement process.

Kevane Grant Thornton was selected as the financial and procurement advisor. At this time the overseeing parties are taking steps to prepare for the procurement process.

For the natural gas project, the authority has selected KPMG LLP as the financial consultant. Their first job will be to prepare a desirability and convenience study.

The planned commuter rail line has Allen & Overy LLP and Pietrantoni, Mendez & Álavarez as the legal advisors and KPMG LLP as the financial consultant.

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