Alameda Corridor Project

In one of the largest public works projects ever undertaken in the United States, O’Melveny represented the nation’s two largest ports in their joint sponsorship of the Alameda Corridor Project, a US$2.4 billion, 20-mile, consolidated, high-speed freight rail corridor linking the ports with the intercontinental rail system. We assisted in acquiring rights-of-way, preparing underlying facility operating agreements, negotiating a US$400 million loan from the US Department of Transportation, obtaining an IRS ruling on the issuance of tax-exempt bonds for a substantial portion of the costs of the project, and negotiating various state and local agreements. This transaction was named “Infrastructure Deal of the Year” by Project Finance International.