‘The cost, upward of $9 billion, would be borne by a private firm, selected by the state’
I’ll save everyone the drama, it’s Cintra [Spanish company], or at least some token US partner, with Cintra.
Cintra, owned by Ferrovial, gets around.
I’d take a real good look at how and why Cintra got this gig.
Cintra doesn’t do all of the PPPs, but given their dismal performance with the Indiana Toll Road, among other projects, I am leery of Virginia allowing them to build the I-66 toll lanes.
On the other hand, Transurban’s not doing too hot, either. Their I-495 express lane project is losing money, and, IIRC, they showed the I-95 express lanes as breaking even with an accounting trick.