Financing was closed on May 20 for Cintra’s I-77 managed lanes project in Charlotte, the region’s first toll road. Under a 50-year revenue risk concession starting in 2018, the private operators will charge drivers up to 45 cents per mile during peaks to drive past growing congestion in the region.
The $441.6-million design-build contract backed by Ferrovial Agroman involves conversion of existing HOV lanes and construction of new managed lanes in a 26-mile segment of I-77 serving the city’s northern suburbs. Completion is guaranteed in 43 months, in 2018.