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The inland marine transportation system is comprised of 12,000 miles of navigable waterways with more than 190 lock sites. Much of this infrastructure was constructed well over 50 years ago. Due to limited federal dollars, the U.S. Army Corps of Engineers (USACE) requires additional financial resources to adequately sustain this infrastructure. Use of the inland waterway system translates into over $6 billion annually in U.S. transportation savings. According to the Tennessee Valley Authority, cargo moves on the waterway at an average transportation savings of $10.67 per ton over other alternative modes. USACE depends on congressional appropriations to finance, improve, operate and maintain its water resources infrastructure. Hence USACE, in cooperation with American Society of Civil Engineers (ASCE), is exploring the potential to employ public-private partnerships (P3s) to assure reliable performance, accelerate capital improvements, and reduce life-cycle cost of infrastructure service delivery. Aside from up-front financing, P3s are intended to provide more efficient delivery of infrastructure services over the life of an asset. An increase in investment in the nation’s infrastructure can result in adequate sustainable maintenance of the inland marine transportation system. P3s can serve as a tool to facilitate commensurate private investment. This paper describes the approach, opportunities, and impediments to P3s applied to civil works projects, with case studies and lessons learned on what is required for its successful implementation. |
