Transurban and the Virginia Department of Transportation (VDOT) have reached agreement on a development framework which will provide a structure to progress the 395 Express Lanes project in Northern Virginia, USA.
Transurban has progressed a framework to extend the 95 Express Lanes for 11 kilometres north to the I-395 and Washington DC border. Potential project scope includes:
Financial close on the project is expected in early 2017.
Transurban CEO Scott Charlton said the 395 Express Lanes would significantly reduce congestion in the I-395 corridor and increase capacity by adding an additional HOV lane to make three reversible lanes on I-395. He stated:
"This project is another example of Transurban working with our network partners to provide benefits for road users. This framework provides us with a clear path forward to agree commercial arrangements to fund this much needed enhancement to the Virginia network."