I-95

• In December 2011, Transurban-Fluor and the Virginia Department of Transportation announced they had reached in-principle agreement on the major commercial terms to build the I-95 High Occupancy Vehicle / High Occupancy Toll (HOV/HOT) lanes in Northern Virginia. The next step involves the parties finalising a comprehensive agreement and financing package for the US$940 million project.
• The project involves major improvements to the key traffic route south of Washington DC, including building new or improving existing HOV lanes to complete a 29-mile / 46-kilometre HOT lanes facility. The facility varies from two to three lanes that will be 'reversible' (ie. will operate in the direction of peak travel). It would also involve adding eight new or improved access points to and from the HOV/HOT network at key interchanges.
• The Commonwealth of Virginia has targetted construction completion for 2015 (around a three-year program in total), with operations beginning immediately after.
• Transurban is already developing HOT lanes - the 495 Express Lanes - on the adjoining Capital Beltway (I-495) with construction partner Fluor and VDOT. Construction on that project is expected to be completed in late 2012.
  
  For more information visit  http://www.495expresslanes.com/