The US$655 million project, extending 26 miles from the I-77 connection with I-277 in Charlotte to the intersection with NC 150 in Iredell County, will enhance traffic connectivity between residential areas along the corridor and downtown Charlotte. The project includes the development of high occupancy toll (HOT) lanes in both directions, providing traffic congestion relief to rapidly growing communities in the area.
Construction will be led by a joint venture between Ferrovial Agroman and W.C. English. The project is being developed as a public-private partnership with the private sector assuming traffic performance risk traditionally taken by the state.
The project is divided into three sections. The project’s 2.2 mile southern section and the 14.9 mile central section will have an ultimate configuration of two HOT lanes in each direction. The north section of the project includes 8.8 miles of new construction of one HOT lane in each direction.
“Cintra is pleased to be a provider of effective, efficient and much-needed transportation solutions and economic development in the greater Charlotte region and will continue to work with state and local leaders to deliver traffic congestion relief to regional motorists,” said Nicolas Rubio, US president of Cintra.
Construction is expected to begin by early 2015 and be completed in mid-2018. The term of the concession will be 50 years after the project opens to traffic.
