Loan for major US tunnel project

A loan facility will help finance a major US tunnel project.
Finance & Funding / October 4, 2021 1 minute Read
By MJ Woof
map courtesy of the HRBT Expansion project
The massive bridge and tunnel project in Virginia will cut journey times and congestion when complete - map courtesy of the HRBT Expansion project

A loan facility has been secured that will help pay for the Hampton Roads Bridge-Tunnel project in the US state of Virginia. The US$1.66 billion loan comes courtesy of the US Department of Transportation.

This project is the largest highway construction project in Virginia’s history and is due for completion in November 2025. The Hampton Roads Bridge-Tunnel Expansion will widen the current four-lane segments along nearly 16km of the I-64 corridor in Norfolk and Hampton. New twin tunnels will run under the harbour.

The project will boost capacity and reduce congestion, lowering journey times for drivers in Virginia. The total budget is over $3.8 billion, making it one of the largest infrastructure projects in the US.

The road expansion will deliver improvements for the I-64 corridor between Settlers Landing Road in Hampton and I-564 in Norfolk. The work includes adding a third lane and a shoulder to I-64 in each direction. The new parallel tunnels will both feature dual lanes.
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