First section of US$665mn highway project opens in USA
The first section of the new I-77 Express lanes project in North Carolina, USA, has opened to the public earlier this month. The US$ 665 million capex project is built and operated by I-77 Mobility Partners, made up of Cintra, Aberdeen, GCM Grosvenor and John Laing, under a public-private partnership (P3) with the North Carolina Department of Transportation (NCDOT).
The I-77 express lanes project involves the design, construction, financing, operation and maintenance of new tolled lanes along 26 miles (41.8 kilometers) of the Interstate Highway 77 (I-77). The road segment is located to the north of Charlotte and provides long-term reliable travel time to drivers in the Charlotte and Lake Norman regions.
The new express lanes will ease congestion in the region and offer drivers more control over journey times, with the option of using existing toll-free lanes, the new express lanes or a combination of both.
The project has been in construction for 4 years and opened its first section after 5 months delay. For now, while the operator is not offering the full service to the customers, the toll rates will be discounted 25%. Cars with three or more people and buses can use the lanes free. Commercial trucks are not allowed in the lanes.
The remaining 11 miles (17.7 kilometers) of toll lanes are planned to be opened in September of October, according to the CEO of I-77 Mobility Partners, Javier Tamargo.
Asset Director for John Laing’s North America region, David Wylie, said - “this is a key project for John Laing and for North Carolina; as pressure increases on existing road networks and motorists spend more time on the highway, our consortium has been able to bring cost-effective, long-term solutions that help to keep the state moving. With the new service now starting, everyone can see the advantages this Public-Private-Partnership brings, delivering a very complex project in a shorter time-scale than might otherwise have been possible, together with 3,500 jobs created locally to build the project.”
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