Meridiam has joined with Genting Americas and Aqualand as a developer and equity provider to pursue the Miami Beach Corridor project, according to a source familiar with the situation.
The Genting and Aqualand team, along with Chinese manufacturer BYD Company Ltd., submitted an unsolicited proposal to DBFOM a rapid transit system connecting mainland Miami to Miami Beach in May 2019. The county then released an RFP for the public-private partnership in September.
After the Miami-Dade Board of County Commissioners voiced objections to BYD’s participation because of its affiliation with the Chinese government, the firm withdrew from the team and procurement.
Genting Group is headquartered in Malaysia.
Jacobs (engineering), Société Générale (financial) and Bilzin Sumberg Baena Price & Axelrod LLP (legal) are advising the consortium.