Rendell to reveal highest Pa. Turnpike bid

May 19, 2008 7:40:36 AM PDT
Gov. Ed Rendell is holding a news conference to reveal the highest bid submitted by firms interested in leasing the Pennsylvania Turnpike for 75 years.

Rendell's office isn't saying before the Monday morning news conference how many firms bid on the deal, or the size of the largest bid.

The governor's been pursuing a privatization plan to raise billions for the state's transportation needs. He's said he'll pass along the highest bid to the Legislature for its consideration.

If a turnpike deal can generate enough money, Rendell says the state will abandon plans to introduce tolls to Interstate 80.

Carl DeFebo, a spokesman for the Pennsylvania Turnpike Commission, says additional information federal regulators want as they consider whether to approve I-80 tolls will be probably not be ready in the coming days.

He says the timetable is more like "weeks or months."