USDOT approves $1.2bn loan for Virginia transportation project

WCN Editorial Team 24 Oct 2017 NORTH AMERICA TRANSPORT INFRASTRUCTURE

The United States Department of Transportation (USDOT) has approved a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan worth $1.2bn for the I-66 Outside the Beltway transportation project in Virginia, US.

Express Mobility Partners (EMP), which is a consortium including Cintra, Meridiam, Ferrovial Agroman US and Allan Myers, will be tasked with designing, constructing, funding, operating, and maintaining the project.

The public-private partnership project involves modification of around 23 miles of I-66, leading to the creation of two express lanes and three regular lanes from I-495 to Route 29 in Gainesville in each direction.

Scope of work also includes 4,000 park-n-ride spaces, expanded bus service across the corridor, operational upgrades at key interchanges, auxiliary lanes between interchanges, as well as bicycle and pedestrian improvements.

The $3.7bn project is anticipated to reach financial close next month. Initial construction is expected to commence later in 2017, with heavy construction expected to take place in early 2018.

EMP CEO for I-66 Javier Gutierrez said:  “Once we achieve financial close, our focus will be on securing design approvals and beginning construction on this transformational project. We have been working closely with our partners at VDOT, our design-build contractor FAM Construction, and the local community to ensure that we deliver a dramatically improved travel experience on a safer, more efficient I-66.”

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