Transurban Announces Major I-95 Expansion
Key points
- Transurban to enhance I-95 Express Lanes by 140%
- New project adds 120 additional lane miles
- Potential financial close anticipated in 2029
- CEO highlights project's transformative potential
Full summary
Transurban Group, through its 50% interest in 95 Express Lanes LLC, has entered a Development Framework Agreement with the Virginia Department of Transportation to assess an enhanced Bi-Directional Project on the I-95 Express Lanes. This project will add approximately 120 new lane miles, extending the lanes 10 miles south through Fredericksburg into Spotsylvania County. The expansion represents a 140% increase in capacity and is expected to deliver significant benefits to customers. The next steps involve design progression, contractor selection, and finalizing CAPEX requirements to submit a Binding Proposal to VDOT. If approved, financial close is anticipated in 2029.
Guidance
Financial close anticipated in 2029
Outlook
The project is expected to significantly enhance capacity and deliver long-term value for customers and investors.
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