Kentucky port P3 advisor sought
The West Kentucky Regional Riverport Authority has issued a request for proposals seeking a pre-development adviser for a multimodal riverport in west Kentucky.
The authority is considering a public-private partnership for the design, construction, financing, operation, and maintenance of a newbuild project near the confluence of the Ohio and Mississippi rivers. The selected adviser will assist in decision making and structuring of an RFP for a private sector partner on the P3. The scope of the work will include identifying potential sites within Ballard, Carlisle, Hickman, and Fulton Counties; assessing customer demand; identifying regulatory requirements; evaluating potential rail and highway connections; recommending deal structure; and working on stakeholder and community outreach.
The project has received letters of support from governor Andy Beshear and officials from the Kentucky Transportation Cabinet and the Kentucky Economic Development Cabinet, according to the RFP. A 2021 feasibility study by Commonwealth Economics concluded that the project would be economically feasible.
"The study found that the project has several unique advantages, including room for growth following the initial development, an above-average existing workforce in the local area, and a climate that would allow the riverport to operate year-round," the RFP states. "The study also found that there is significant business interest in the project, as surveys indicate that up to nine companies were highly motivated to establish or grow operations at the new riverport."
Responses to the RFP are due by February 27. A cost estimate for the project has not yet been revealed.
