Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: October 2, 2008

Project Name: Capital Beltway HOT Lanes Project
Year in Operation:
Sector: Transportation
Subsector: Roads
Status: Design / Construction
Type: Substantial Alteration of Existing Facility
Description: Addition of four new HOT traffic lanes along fourteen miles of the Capital Beltway (2 in each direction), replace $260 million of aging infrastructure, including 50 bridges and overpasses.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: HOT lanes are congestion priced to single/double occupancy vehicles, but remain free to buses, carpools (HOV-3), motorcycles, and emergency vehicles. EZ-Pass ETC/AVI system to be installed along HOT Lanes.

Project Locations

Address:
City: Washington
State: District of Columbia
Country: United States of America

Address:
City: Arlington
State: Virginia
Country: United States of America

Address:
City: Springfield
State: Virginia
Country: United States of America

Address:
City: Tysons Corner
State: Virginia
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Land
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): 75 year concession to operate the Hot Lanes, that begins at the end of expected 5 year construction period.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Arrow Right
Checkbox Checked

Direct Cash Support: $409 million from the Commonwealth of Virginia

Arrow Right
Checkbox Checked

Credit Enhancements: $587 million loan from the Federal Government's TIFIA program, designed to encourage investment in transportation infrastructure.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Balance of $1.4 Billion dollar commitment.

Checkbox Checked

From Producers as Equity: $350 million equity contribution from US affilate of Transurban and from Fluor.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
80
0
Forms
Description
Other
Specially negotiated agreements. 

Project Value (If and As Known)

Date of Estimated Project Value: October 2, 2008
Project Value
Hard Cost
Hard & Soft Costs
Total
$500 Million - 2 Billion US
$500 Million - 2 Billion US

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