In December, 2004, France opened the Millau Viaduct, which by some measures is the largest bridge in the world. More than a mile-and-a-half long, supported by pylons that are as much as 1,100 feet tall, the bridge carries auto and truck traffic as high as 900 feet above the Tarn valley below, reducing the journey across the valley from many minutes to barely more than 60 seconds.
The bridge cost 394 million euros, well over half a billion dollars in today’s money. What was most interesting to me is that not a penny of public money went into construction (though some was spent on planning). Instead, this was a public-private partnership, meaning the public granted a private company, in this case a construction company called Eiffage, a franchise to build, operate, and collect tolls from users of the bridge. After a certain number of years, in this case 40 to 75 depending on the amount of tolls collected, ownership of the bridge reverts to the public. Continue reading
