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News » US » Ferrovial closes $3.55bn Virginia highway deal » published 13 Nov 2017

Ferrovial closes $3.55bn Virginia highway deal

Ferrovial subsidiary Cintra Infraestructuras has achieved financial close on the I-66 project in Virginia.

Virginia Department of Transportation (VDOT) had selected the bid presented by the Cintra-Meridiam consortium in November 2016.

The project, which requires an investment estimated at US$3.550bn, involves building new lanes along a 22-mile stretch of the I-66, between Route 29 near Gainesville and the I-495 Capital Beltway, in Fairfax County.

Cintra will lead the development of the project, while Ferrovial Agroman US and local construction company Allan Myers will handle the design and construction, which is due to be completed in 2022. The concession term is 50 years.

The project will expand the capacity of the I-66, which will end up with three upgraded general purpose lanes and two managed lanes in each direction. Work also includes improved on- and off- ramps, refurbished park-and-ride lots and new ones connecting directly to the managed lanes.

 

MPU

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This article was published on 13 Nov 2017 (last updated on 17 Nov 2017).

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