Consortium to invest more than $3.5 billion in the Commonwealth of Virginia to enhance mobility while delivering economic growth and job opportunities across the region.
In 2016, the Commonwealth of Virginia selected I-66 Express Mobility Partners to finance, design, build, maintain and operate express lanes on Interstate 66 Outside the Beltway. The project will transform this critical Northern Virginia artery to relieve congestion, improve safety and provide more predictable travel times.
The Transform 66 Outside the Beltway P3 project is the first major procurement to follow Virginia’s reformed Public-Private Partnership (P3) process that was designed to increase accountability, transparency and competition in P3 projects. As an innovative and efficient public-private partnership, this project will be completed at a $2.5 billion net savings for the Commonwealth of Virginia.
I-66 will be expanded – from the Capital Beltway (I-495) to Gainesville (US Route 29) – to include three toll free general purpose lanes and two express lanes in each direction with a state-of-the-art open-road electronic toll collection system. Expanded transit service, park-and-ride lots and interchange enhancements will further improve travel along I-66. The project will also connect several shared use paths to create more multimodal options.
Cintra is a member of the I-66 Express Mobility Partners consortium, along with Meridiam, John Laing and APG. Together, we will invest more than $3.5 billion in Virginia’s infrastructure over the life of this project. This includes the $2.3 billion project construction, an approximately $500 million upfront payment to the Commonwealth to fund additional improvement projects in the corridor, $800 million to expand transit service in the corridor and $350 million for other projects to improve the I-66 corridor over the next 50 years.
Click here to see a video overview of the project.
|Facility Type:||General purpose and tolled managed lanes|
|Start of Concession:||2016|
|End of Concession:||2066|
|Term of Concession:||50 years|
|Concession Company:||I-66 Express Mobility Partners, LLC|
|Client:||Virginia Department of Transportation|
|Equity Structure:||50% Cintra Global LTD; 26.7% Meridiam; 10% John Laing Plc; 13.3% APG|