Closing Plenary Luncheon (Thursday, October 22; 12:00pm – 2:00pm). Join us for a seated lunch as we to mark the end of this year’s conference. You will briefly hear from industry leaders, but the main discussion will feature the following panel of experts:
P3 for the Nation’s Inland Marine Transportation System – Focus on Dredging
The Inland Marine Transportation System (IMTS), is comprised of 12,000 miles of navigable waterways with more than 190 lock sites. Much of the IMTS infrastructure was constructed well over 50 years ago. Due to limited Federal dollars, the U.S. Army Corps of Engineers (Corps) which owns and operates the IMTS, has not been able to invest the financial resources necessary to sustain this infrastructure. China is investing approximately 8.5% of its GDP in infrastructure, Japan 5%, and India 4.7%, while the U.S. is investing approximately 2.6% of its GDP in infrastructure.
The coast to coast producers, shippers and consumers in the 38 states serviced by the IMTS depend on the inland waterways to move about 567 million tons of cargo annually (2012). According to the Tennessee Valley Authority, this cargo moves at an average transportation savings of $10.67 per ton over other alternative modes. This translates into over $6 billion annually in U.S. transportation savings.
The Corps depends on Congressional appropriations to finance, improve, operate and maintain the IMTS. Hence the Corps is investigating Public-Private Partnerships (P3) to assure reliable performance of the IMTS, to accelerate improvements, to allocate risks appropriately, and to improve the value-for-money of the IMTS assets over their entire life-cycle. This is NOT just about financing, it is about better delivery of infrastructure over the life of the asset. The development of P3, a strategy that is employed to meet critical infrastructure investment needs worldwide, is one alternative financing concept that the Corps is investigating in concert with ASCE to maintain and sustain the IMTS and the economic benefits that will be derived from future investments.
This panel will describe the approach, opportunities, and impediments to P3 partnerships as applied to the IMTS, with a focus on dredging-related case studies and lessons learned on what is required for its successful implementation.