As groung has been broken earlier this month on the  Fredericksburg Extension (FredEx) project in the USA, the Virginia Small Business Financing Authority is set to issue Private activity bonds (PABs) of US$ 264.40 million for the project.

Fredericksburg Extension (FredEx) involves the construction of a 10-mile (16km) extension of the 95 Express Lanes in northern Virginia, USA. The extension will add two reversible Express Lanes along the Interstate Highway 95 (I-95) from the current end of the express lanes in Stafford County to Fredericksburg, to the south. The project includes new access points to the existing I-95 Express Lanes, new ramps, and seven new bridges.

In June 2019 the government of Virginia has launched the US$ 565 million FredEX road section, scheduled to be completed in 2022. The project will create 9,100 jobs and generate US$ 1.1 billion in economic activity in the region. Transurban’s role in the project is to ride to the rescue of cash-strapped states and other governments by financing increasingly costly and urgently needed traffic projects in exchange for operational control and the ability to collect tolls from thousands of annoyed drivers every day.