Loan provided for Virginia road project

A US$141 million loan has been provided for a Virginia road project.
Finance & Funding / November 29, 2023 1 minute Read
By MJ Woof
Major highway upgrade works are being carried out in the US state of Virginia at present – image courtesy of © Andrea Fotache|

A loan worth US$141 million will help pay for a portion of the Hampton Roads Express Lanes Project. The loan is being provided by the Build America Bureau to the Hampton Roads Transportation Accountability Commission (HRTAC), but for the Virginia Department of Transportation (VDOT).

The Hampton Roads Express Lanes Project involves the construction of a network of 72km of express lanes for I-64. This particular loan will be used to address the heavy peak time congestion on a 4km stretch of I-64 with the addition of two open lanes in either direction as well as two express lanes in either direction. Bridges spanning the Hampton River will be replaced while four other bridges will be revamped.

The work on this stretch of I-64 is being carried out by a joint venture that comprises Shirley Contracting and Branch Civil and is due for completion by the beginning of 2027.

This project forms part of a much wider series of works being carried out in Virginia at present. The project to expand Virginia’s Hampton Roads Bridge-Tunnel (HRBT) link is the largest series of road works in Virginia’s history. 

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