Spain constructors eye 21.2 bln eur Pennsylvania highway privatisation

Thomson Financial on potential Spanish bidders on a Turnpike lease (RFQs were due today). Once you get past the British spelling ("privatisation") , you need to covert Euros to US Dollars - which is 1 Euro to $1.42. Thus the Spanish firms value the Turnpike at about $30.1 billion dollars - or about 67% higher than the Morgan Stanley estimate.

Based on that, a Turnpike Lease could lead to $2.1 to $2.7 billion annually for the state - more than three times Act 44 - without tolling I-80.