A team of private companies led by Spanish toll road operator 930 Cintra has secured its financing for the Texas, USbased mega-toll project, the North Tarrant Express.
The project The US$2 billion (€1.4 billion) project will rebuild existing lanes along Interstate 820 and portions of SH 183, and add new managed lanes as well, with construction expected to begin in late 2010.
It will be the first privately financed toll road in north Texas. A similar project, also led by Cintra, to rebuild LBJ Freeway with a mix of free and paid lanes is expected to begin construction shortly afterward.
The managed lanes on both projects will be costly during rush hours, with rates going up as the traffic on the adjacent free lanes gets heavier. It is an approach to manage traffic by continuing to jack up rates when demand is strong, and by doing so keeping traffic moving freely on the paid lanes no matter how slow it becomes on the free lanes.
Tolls from the managed lanes will be used to repay the debts required to build the project and provide profit to Cintra and its partners, which include the Dallas Police and Fire Pension System.
The project The US$2 billion (€1.4 billion) project will rebuild existing lanes along Interstate 820 and portions of SH 183, and add new managed lanes as well, with construction expected to begin in late 2010.
It will be the first privately financed toll road in north Texas. A similar project, also led by Cintra, to rebuild LBJ Freeway with a mix of free and paid lanes is expected to begin construction shortly afterward.
The managed lanes on both projects will be costly during rush hours, with rates going up as the traffic on the adjacent free lanes gets heavier. It is an approach to manage traffic by continuing to jack up rates when demand is strong, and by doing so keeping traffic moving freely on the paid lanes no matter how slow it becomes on the free lanes.
Tolls from the managed lanes will be used to repay the debts required to build the project and provide profit to Cintra and its partners, which include the Dallas Police and Fire Pension System.
