Texas DOT collected $100 million this month from its P3 partner Cintra US by agreeing to raise the speed limit on the Spanish company’s newly opened SH 130 toll road concession to 85 mph, a U.S. record.
The 40-mile segments 5 and 6 of the toll road from Austin to San Antonio was opened on schedule Oct. 24 for the agreed-upon price of $968 million by investor/builders Ferrovial and Zachry Construction. Cintra owns 65% of the SH 130 concession company, with Hastings Fund Management, Zachry American, and Utilities Trust of Australia.
The privately operated road is an extension of SH 130 segments 1-4, TxDOT’s first design-build project, which was completed four years ago by Fluor and Balfour Beatty and operates at a loss as a low-traffic component of the Central Texas Turnpike. Segments 1-4 will continue to be posted at 75 mph. Both public and private roads will be insured by TexDOT.