Financing has been found to fund construction work on the North Tarrant Express (NTE) in Texas. The public-private partnership project for Segment 3A of the route will be carried out by NTE Mobility Partners Segments 3 LLC (NTEMP3). The rebuilding of the I-35W road close to Fort Worth will help reduce traffic congestion on the route at peak periods. The public-private partnership has been agreed between NTEMP3, the 3499 Texas Department of Transportation (TxDOT) and the North Central Texas Council of Governments (NCTCOG).
Segment 3A of the NTE will be carried out by NTEMP3 and this is a US$1.4 billion project that will rebuild 10.4km of the existing main lanes of I-35W. The work will see the addition of two managed toll TEXpress lanes in both directions, doubling the capacity of the highway. The 3A Segment extends from I-30 in downtown Fort Worth up to and through the I-35W/I-820 interchange. Construction is expected to begin shortly, with substantial completion in 2018. Segment 3B is being constructed by TxDOT and will be operated by NTEMP3, which is led by930 Cintra US and 7167 Meridiam Infrastructure. The equity members also include the 1180 Dallas Police and Fire Pension System and APG. The project is being financed through a unique combination of public and private funds. Some $531 million is coming from a federal TIFIA (Transportation Infrastructure Finance and Innovation Act) loan, while $430 million comes from private equity from investment partners. A further $274 million is in Private Activity Bonds (PABs) maturing in 25 and 30 years (which were 2.5 and 4 times oversubscribed respectively) and $127 million is from public funds from TxDOT and NCTCOG. Cintra US, Meridiam Infrastructure and Dallas Police and Fire Pension System are currently developing Segments 1 and 2 of the NTE, extending from the I-35W/I-820 interchange east along I-820 and SH 121/183.
This $2.5 billion, 21.6km project is expected to be completed in 2015. In addition to an innovative financial structure, the reconstructed highway will also feature TEXpress managed toll lanes, which will be implemented in Texas for the first time with the opening of the initial segment of the LBJ Express, the DFW Connector expected in 2013, additional LBJ Express segments expected in 2014, and the first two segments of NTE expected in 2015. TEXpress Lanes help manage traffic flow by providing tolled express lanes that adjust according to traffic speed and traffic volume. This dynamic tolling model aims to ensure that TEXpress Lane users are guaranteed a minimum speed of 80km/h. Drivers have the choice to pay a toll for a more reliable and time-saving trip to their destinations, or continue to drive along the rebuilt free main lanes. As with Segments 1 and 2, NTE Segment 3A, together with TxDOT-constructed Segment 3B, will be operated and maintained by the consortium under a concession agreement with the state of Texas, the length of which is 48 years. The state retains ownership of the highway at all times; at the end of the term, responsibility for the operation and maintenance of the roadway will be returned to TxDOT.
Segment 3A of the NTE will be carried out by NTEMP3 and this is a US$1.4 billion project that will rebuild 10.4km of the existing main lanes of I-35W. The work will see the addition of two managed toll TEXpress lanes in both directions, doubling the capacity of the highway. The 3A Segment extends from I-30 in downtown Fort Worth up to and through the I-35W/I-820 interchange. Construction is expected to begin shortly, with substantial completion in 2018. Segment 3B is being constructed by TxDOT and will be operated by NTEMP3, which is led by
This $2.5 billion, 21.6km project is expected to be completed in 2015. In addition to an innovative financial structure, the reconstructed highway will also feature TEXpress managed toll lanes, which will be implemented in Texas for the first time with the opening of the initial segment of the LBJ Express, the DFW Connector expected in 2013, additional LBJ Express segments expected in 2014, and the first two segments of NTE expected in 2015. TEXpress Lanes help manage traffic flow by providing tolled express lanes that adjust according to traffic speed and traffic volume. This dynamic tolling model aims to ensure that TEXpress Lane users are guaranteed a minimum speed of 80km/h. Drivers have the choice to pay a toll for a more reliable and time-saving trip to their destinations, or continue to drive along the rebuilt free main lanes. As with Segments 1 and 2, NTE Segment 3A, together with TxDOT-constructed Segment 3B, will be operated and maintained by the consortium under a concession agreement with the state of Texas, the length of which is 48 years. The state retains ownership of the highway at all times; at the end of the term, responsibility for the operation and maintenance of the roadway will be returned to TxDOT.
