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The Virginia Department of Transportation (VDOT) is close to launch a request for qualification (RFQ) for the Interstate 66 (I-66) project outside Virginia city's beltway.
The Transportation Public-Private Partnership Advisory Committee, with staff representation from the General Assembly, affirmed the Finding of Public Interest (FOPI) signed by Virginia Department of Transportation (VDOT) Commissioner Charlie Kilpatrick, paving the way for the state to issue a RFQ for the road project.
In the FOPI, the commissioner said he believed there are three P3 options that should be considered:
A final decision on how the I-66 project will be financed is expected by end of this year.
The project would involve the construction of two HOT lanes and three regular lanes in each direction. The concession contract would not exceed 40 years.
The total project investment is estimated at US$2.1 billion. VDOT expects that the public contribution will be about US$600 million, which would be provided during the construction period.
The contract is expected to be awarded by 2016 and construction works could begin in 2017, with completion approximately five years later.
Under the proposed plan, I-66 would be improved to provide high-frequency bus service with predictable travel times, and direct access between the express lanes and new or expanded commuter lots.
We have recently reported on several road PPP projects globally: