When the Massachusetts Bay Transportation Authority (MBTA) solicited market interest for a public private partnership to replace Boston’s infamous “Charlie Card” with new fare payment technology, Cubic Corporation was a top contender, having provided new account-based operations for transit systems around the world.
Based upon our reputation and experience with Public Private Partnership (P3) models, Cubic reached out to TFIC to inform and help organize Cubic’s P3 bid process, in addition to attracting project equity participants. TFIC ran a process on an accelerated timeframe, recommending John Laing as a preferred partner.
The team was awarded the P3 based on TFIC’s mobilization of equity for the $700+ million project financing and strategic advice for Cubic’s offering.
- Cubic announced Cubic Transportation Systems (CTS) was selected by MBTA for the project on November 21, 2017
- Cubic announced a new agreement had been reached, ratified by the MBTA’s Fiscal Management Control Board June 18, 2020
- Base contract award of $699.19 million
- 10 years of operations and maintenance
- Two five-year extension options
- Projected to be completed in 2024
Additional Project Information
Cubic | MBTA In the News