$687-Million Bid Wins Tollway Job
Transit agency officials have awarded a $687-million contract to an international consortium that will build the 23-mile Eastern tollway that will parallel the Costa Mesa Freeway from the Riverside to Santa Ana freeways.
Bids were received from four companies, but the contract was awarded Friday to Silverado Constructors, a joint venture of Santa Ana, San Diego, German and Japanese companies that submitted the low bid. The consortium’s offices are in San Diego.
Construction is scheduled to begin in early 1996 and be completed by late 1999, said officials of the Transportation Corridor Agencies, a public group formed by special state legislation to construct three tollways in Orange County, including the San Joaquin and Foothill tollways.
The toll road will be administered by the Foothill/Eastern tollway agency. Under the agency’s contract with Silverado, the consortium agreed to build the tollway without any cost overruns and guaranteed the completion date.
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