Virginia Governor Bob McDonnell has announced that the 5131 Virginia Department of Transportation (VDoT) and Fluor-891 Transurban have come to a non-binding, in-principle agreement on the major commercial terms to build the I-95 high occupancy vehicle/high occupancy toll (HOV/HOT) lanes project in Northern Virginia.
This interim step enables Fluor-Transurban and VDOT to finalise the details of a comprehensive agreement and financing package for the project which is being financed and constructed under Virginia's Public-Private Transportation Act.
The project will expand the existing HOV facility on I-95 to create HOV/HOT lanes across 45 kms between Edsall Road in Fairfax County and Garrisonville Road in Stafford County, with improved access to major Virginia employment centres and military sites. The project connects with Fluor-Transurban's Capital Beltway HOT lanes project, which is scheduled for construction completion in late 2012.
This interim step enables Fluor-Transurban and VDOT to finalise the details of a comprehensive agreement and financing package for the project which is being financed and constructed under Virginia's Public-Private Transportation Act.
The project will expand the existing HOV facility on I-95 to create HOV/HOT lanes across 45 kms between Edsall Road in Fairfax County and Garrisonville Road in Stafford County, with improved access to major Virginia employment centres and military sites. The project connects with Fluor-Transurban's Capital Beltway HOT lanes project, which is scheduled for construction completion in late 2012.
