WOODBRIDGE, Va. -- The private developer of the 95 Express Lanes project has been tapped by the federal government to apply for a loan to help pay for the lanes.
Transurban-Fluor will convert the High Occupancy Vehicle lanes on Interstate 95, from Dumfries to Edsall Road in Alexandria, to toll lanes. The lanes will be extended from Dumfries to Va. 610 in North Stafford to complete the 29-mile, $940 million 95 Express Lanes corridor.
The loan is called a Transportation Infrastructure Finance and Innovation Act, or TIFIA loan, from the U.S. Department of Transportation. If awarded to Transurban-Fluor, would cover $928 million of the total cost of the project.
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