This project comprises an extension of The Capital Beltway, a 64 mile Interstate freeway encircling Washington, DC, passing through Virginia and Maryland, carrying the Interstate I-495 designation throughout, and delivering the overlapping Interstate I-95 designation on the eastern portion of the Beltway.
The specific extension adds a number of High Occupancy Toll (HOT) Lanes, to be constructed for operation within the centre of the Capital Beltway beside the existing lanes. High occupancy vehicles, including buses, emergency vehicles and cars with with atleast three passengers will ride for free, with a charge levied non-HOV motorists wishing to take advantage of the less congested lanes.
Transurban is developing the Capital Beltway project in partnership with the Virginia Department of Transportation, Virginia Department of Rail and Public Transportation and Fluor Enterprises.
The project will involve over US$1 billion of debt funding, involving DEPFA Bank as the senior lender and subordinated debt via a TIFIA loan, courtesy of the Transportation Infrastructure Finance and Innovation Act (TIFIA).
Operis provided the financial model auditing services on behalf of Transurban, Fluor and DEPFA Bank.
