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Transform 66 - Outside the Beltway

A road map showing the extent of the Transform 66 project
Project Type: 
Roadways and Bridges
Sponsor / Borrower: 
Virginia Department of Transportation / I-66 Express Mobility Partners LLC
Credit Agreement Status: 
Active
TIFIA Assistance: 
$1,229 million
Primary Revenue Pledge: 
Toll Revenues
Project Cost Details: 

$3.724 billion in eligible project costs

Duration / Status: 

Substantial completion expected in December 2022.

Fiscal Year Closed: 
FY2018
Project Description: 

The Project involves a major interstate expansion and construction of managed tolled lanes under a Public-Private Partnership 50-year concession arrangement granted by the Virginia Department of Transportation for approximately 22.5 miles of Interstate-66 in Northern Virginia.

This section of I-66 currently has between two to three general-purpose lanes (the section with three general-purpose lanes begins west of Route US-50) and one rush hour high-occupancy vehicle lane.  The Washington Metropolitan Area Transit Authority Metrorail runs through the median of I-66 from the Capital Beltway to the Vienna/Fairfax Metro Station.

The Project intends to address a critical need for transportation improvements.  The Project area currently experiences peak congestion periods of four to five hours per day, travel speeds that can drop to as low as 10-15 mph and over 220,000 vehicles per weekday (in the Fairfax County portion).  The Project area has higher than Virginia average crash rates, few alternative single occupant vehicle routes and a growing regional population.

The purpose of the Project is to reduce congestion, increase mobility, and optimize the operations of a major interstate highway.  The Project is expected to not only substantially improve the traffic flow and provide congestion-free travel along the Express Lanes, but also to enhance quality of life by encouraging carpooling and reducing demand on local streets.

The Project seeks to mitigate I-66 corridor congestion and deficiencies by providing the following:

  • Two tolled, managed express lanes (“Express Lanes”) in each direction;
  • The expansion to three general-purpose lanes in each direction for the length of the Project; and
  • The expansion of park and ride facilities, including over four thousand parking spaces, with direct access to the new Express Lanes.

The Project will also include the design, construction and/or relocation of certain interchanges, bridges and utilities (including full connectivity at the Capital Beltway intersection), improvements to auxiliary and bike lanes, and the design, installation and operation of a dynamic, electronic toll collection system.

Project Delivery / Contract Method: 

DBFOM P3

Project Participants: 
Public Sponsor: Virginia Department of Transportation
Design-Builder: Ferrovial Agroman US Corp. and Allen Myers VA, Inc.
Equity members: Meridiam Infrastructure North America LLC, Cintra Global Ltd., and Cintra Infrastructures S.E.
Project Advisors / Consultants: 

To USDOT Build America Bureau:

  • TIFIA Financial Advisor: Scully Capital Services, Inc.
  • TIFIA Secondary Financial Advisor:  Project Finance Advisory Ltd.
  • TIFIA T&R Risk Advisor:  Booz Allen Hamilton
  • TIFIA Legal Advisor: Skadden Arps Meagher & Flom, LLP
Project Lender(s): 
USDOT, Bondholders
TIFIA Credit Assistance Detail: 

Direct loan: Up to $1.229 billion.  The TIFIA loan is secured by net toll revenues.

Financial Status: 
TIFIA Credit Agreement signed on November 7, 2017.
Project Contacts: 

Mr. Javier Gutierrez Villanueva
Chief Executive Officer
I-66 Express Mobility Partners

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