en.Wedoany.com Reported - A major expressway project in Georgia, USA, with a total investment of $10.8 billion, officially broke ground recently. The Georgia Department of Transportation and the SR 400 Peach Partners consortium held a groundbreaking ceremony in Alpharetta, marking the start of construction for the SR 400 Expressway expansion project.
The project will add dynamically priced express lanes on approximately 16 miles of highway in northern Atlanta, spanning from the North Springs MARTA station in Fulton County to McFarland Parkway in Forsyth County. The project is being delivered through a public-private partnership, with SR 400 Peach Partners responsible for design, construction, financing, operation, and maintenance under a concession period of approximately 56 years. The consortium is composed of ACS Infrastructure, Acciona, and French asset management company Meridiam.
Atlanta-based FlatironDragados and Madrid-based Acciona Construction will lead the highway construction, with Parsons serving as the lead design engineer. According to ENR, the design and construction cost is $4.6 billion. Construction is expected to be completed by 2031.
In addition to adding dynamically priced express lanes in both directions, the project will also upgrade the interchange between Interstate 285 and State Route 400, construct new bridges, and install corridor-wide technology systems. The Georgia Department of Transportation stated that the expressway project is a key component of the state's major transportation investment plan.
Regarding funding, loans from the U.S. Department of Transportation’s Transportation Infrastructure Finance and Innovation Act (TIFIA) and tax-exempt private activity bonds will support the expressway construction. The TIFIA loan obtained for the project is nearly $3.9 billion, making it the largest TIFIA loan ever granted by the U.S. Department of Transportation to a single borrower.
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