RICHMOND, Va., Nov. 3, 2016 /PRNewswire/ -- Meridiam, a leading global investor and asset manager specializing in public and community infrastructure announced today that its team, I-66 Express Mobility Partners, has been named Preferred Proposer by the Commonwealth of Virginia for the State's Transform 66 Project. The consortium submitted their proposal to design, build, finance, maintain and operate the I-66 Outside the Beltway project under the Public Private Partnership (P3) Transportation Act.
The I-66 Express Mobility Partners' work on behalf of the Transform 66 Project is designed to relieve congestion, improve safety and provide more predictable travel times for Northern Virginia and Washington, D.C. metro region.
The I-66 Outside the Beltway Project extends 22 miles along the Interstate 66 corridor outside of the Beltway between US Route 29 near Gainesville, in Prince William County and Interstate 495 in Fairfax County. Once completed, the Project will provide significant upgrades to one of the East Coast's most highly congested corridors, including:
- Three regular lanes in each direction;
- Two express lanes in each direction with a state-of-the-art open-road electronic toll collection system;
- Direct access between the express lanes and new or expanded commuter lots;
- New and expanded transit service and park-and-ride lots; and
- Interchange improvements to enhance safety and reduce congestion, including auxiliary lanes between interchanges, where needed.
"The Commonwealth of Virginia's vision for Transform 66 is something we share, and our commitment to provide an innovative mobility solution for this key region of the US is unwavering. We're ready to put the full breadth and depth of experience of all of our consortium members to work to deliver transportation solutions that provide increased mobility, economic growth, and job opportunities for the region and its residents," said Jane Garvey, Chairman, Meridiam North America.
Meridiam draws on deep transportation and PPP experience and has closed 11 projects in North America since 2009, including North Tarrant Express (TX), LaGuardia Airport Central Terminal B (NY) and Maryland's Purple Line (MD).
I-66 Express Mobility Partners includes equity members Cintra and Meridiam; lead contractors Ferrovial Agroman US and Allan Myers VA, Inc.; and lead engineers Janssen & Spaans Engineering, Inc., the Louis Berger Group, Inc. and American Structurepoint, Inc.
Founded in 2005, Meridiam is an independent investment firm specializing in the development, financing, and management of long-term public infrastructure projects. With offices in Paris, New York, Toronto, Istanbul, and Dakar, Meridiam is a leading investor in public infrastructure across Europe, North America and Africa. Currently managing €5 billion ($5.5 billion) of assets, the firm has to date invested in 49 projects. Designated Global Infrastructure Fund of the Year for the fourth time in 2015 by IJ Global, Meridiam is one of the first investors and asset managers to receive ISO 9001 certification for its responsible investment process and is a founding member of the Long Term Infrastructure Investors Association.
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