I495 EXPRESS LANES

A public-private partnership between Virginia Department of Transportation and Transurban widening the I495 Capital Beltway by adding two Express Lanes in each direction for 14 miles

PROJECT DETAILS

  • Value: US$2.1 B

  • Contract: Design-build-finance-operate-maintain Toll Concession

  • Parties: Virginia Department of Transportation (VDOT) & Capital Beltway Express, LLC - Joint venture between Fluor and Transurban

  • Contractor: Fluor / Lane Joint Venture

  • Operator: Transurban USA Ltd

  • Status: In use (85 year concession term including 5 years build)

PROJECT DESCRIPTION

  • 14 miles of two new lanes in each direction

  • first time introduction of High Occupancy Vehicles (HOV) lanes to the Capital Beltway

  • replacement of more than $260 million of ageing infrastructure, including more than 50 bridges and overpasses

  • construction of carpool ramps connecting I-95 with the Capital Beltway to create a seamless HOV network

PROJECT BENEFITS

  • reliable transit options to the Beltway and Tysons Corner, Virginia

  • congestion-free network for carpools, vanpools, transit and toll-paying motorists

  • dynamic tolling based on real-time traffic condition

  • first time a Private Activity Bond was used for HOT lanes in the U.S. and the first time combined with TIFIA financing

KEY SERVICES PROVIDED

  • concept design development and development leadership

  • stakeholder and approvals management

  • consultant team & disciplinary oversight

  • commercial and legal negotiation lead

  • transaction and financial close management

  • Executive, Board and investor reports and updates

 

Business commencing August 2020

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