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HOT lanes * USA - Foreign firm to build and operate they on Capital Beltway
A company with roots in Australia will control 90 percent of the design, finance, construction and operation of high-occupancy toll lanes on the Capital Beltway in Washington, DC, and VirginiaWashington,DC,USA -Land Line Magazine -December 21, 2007: -- ... Transurban, an Australian firm that finances and operates the Pocahontas Parkway in Richmond, VA, and Texas-based Fluor Enterprises have landed a contract to expand 14 miles of the Beltway from eight lanes to 12 lanes. The expansion will be between the Springfield Interchange and Tyson’s Corners... U.S. Department of Transportation officials said once construction is finished, the two existing middle lanes will be converted to HOT lanes with fluctuating tolls based on traffic volume... Car poolers, buses and emergency vehicles will not pay tolls to use the HOT lanes. However, individual drivers, including truckers, will be able to pay tolls to get out of the regular lanes and use the less-congested HOT lanes... The Capital Beltway is owned by the Virginia Department of Transportation, but Transurban will operate the HOT lanes for 75 years and use toll revenue to pay off the loan and bonds...
Labels: HOT lanes
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