The United States Department of Transportation (USDOT) has approved a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan of $874.6M to Purple Line Transit Partners for the implementation of the Maryland Purple Line project.
The 16.2-mile project includes 21 stations and connects many communities in Maryland, from Bethesda in Montgomery County to New Carrollton in Prince George’s County.
The project, owned by the Maryland Department of Transportation, will be implemented on a design-build-finance-operate-maintain basis.
The project was procured as a public-private partnership under a concession agreement that was executed in April 2016, and expires about 30 years after substantial completion, which is expected in March 2022.
* Data provided by Timetric's Construction Intelligence Center.