The US state of Maryland has awarded Accelerate Maryland Partners pre-development work on the American Legion Bridge I-270 to I-70 Relief Plan.
The bid from Accelerate - a joint-venture between Australian toll-road operator Transurban and financial services provider Macquarie - nudged ahead of proposals from a consortium led by Cintra Global and John Laing Investments and another from Itinera Infrastructure.
The deal is worth around US$5 billion.
The American Legion Bridge I-270 to I-70 Relief Plan will add new tolled lanes and expand the 10-lane American Legion Bridge connecting the northeastern states of Maryland and Virginia. Accelerated will have tolling rights for 50 years and the option to compete in future connecting tolled lanes development.
Transurban will have around 18 months to develop the project before committing to full funding, while construction work is slated to complete within two to three years.
The American Legion Memorial Bridge carries Interstate 495 – the Capital Beltway across the Potomac River between Montgomery County in Maryland and Fairfax County in Virginia.
It was opened in 1962 as a six-lane bridge but widened to 10 lanes – five in each direction - by 1992 with a third span between what was originally two separate spans. The new bridge will be between eight and 12 lanes and have some tolling.
According to the Maryland Department of Transportation last year, the American Legion Bridge I-270 to I-70 Relief Plan is Phase 1 of the larger I-495 and I-270 Public-Private Partnership (P3) Programme.
