A significant milestone in the redevelopment and expansion of Interstate 35W in Fort Worth, one of the most critical and most-congested corridors in the North Texas region and in the country has been achieved by NTE Mobility Partners Segments 3 LLC (NTEMP3). They have reached financial agreement on Segment 3A of the North Tarrant Express (NTE), paving the way for the reconstruction and expansion of the interstate.
The project is being financed through a unique combination of public and private funds: US$531 million from a federal Transportation Infrastructure Finance and Innovation Act (TIFIA) loan; US$430 million in private equity from investment partners; $274 million in Private Activity Bonds (PABs) maturing in 25 and 30 years; and US$127 million in public funds from TxDOT and NCTCOG.
“This is a huge win for Texas, and demonstrates significant market confidence in this public-private partnership,” said Nicolas Rubio, president,5428 Cintra US. “Through this innovative public-private partnership, TxDOT and the North Central Texas Council of Governments (NCTCOG) have utilised the strength of the private sector to deliver this project years sooner than otherwise possible and at vastly reduced public costs, while creating local job growth and fostering economic development for the region.”
“The I-35W project has been on the drawing board for decades, but could not advance due to a lack of funding,” said Richard Tettamant of the Dallas Police and Fire Pension System. “Today’s announcement means that North Texas families, commuters and employers will soon have much-needed and long-anticipated relief. We are proud to be investing in the future growth of the Metroplex.”
NTEMP3 will undertake the construction of the US$1.4 billion project to rebuild 6.5 miles of the existing main lanes of I-35W, construct new, expanded frontage roads and expand the highway with the addition of two TEXpress managed toll lanes in both directions, doubling the capacity of the highway. Construction is expected to begin this fall, with substantial completion in 2018. Segment 3B is being constructed by the375 Texas Department of Transportation (TxDOT) and will be operated by NTEMP3.
The TEXpress managed toll lanes, which will be implemented in Texas for the first time with the opening of the initial segment of the LBJ Express, will help to manage traffic flow by adjusting according to traffic speed and traffic volume.
“TEXpress Lanes will significantly enhance traffic flow in the region, especially for longer-trip commuters,” said Belen Marcos, CEO for NTEMP3
NTEMP3 is led by Cintra US, a world leader in the private-sector development of transportation infrastructure, and Meridiam Infrastructure, who has extensive expertise in global public-private partnerships as an investor/developer of public facilities. The equity members also include the Dallas Police and Fire Pension System and APG.
The project is being financed through a unique combination of public and private funds: US$531 million from a federal Transportation Infrastructure Finance and Innovation Act (TIFIA) loan; US$430 million in private equity from investment partners; $274 million in Private Activity Bonds (PABs) maturing in 25 and 30 years; and US$127 million in public funds from TxDOT and NCTCOG.
“This is a huge win for Texas, and demonstrates significant market confidence in this public-private partnership,” said Nicolas Rubio, president,
“The I-35W project has been on the drawing board for decades, but could not advance due to a lack of funding,” said Richard Tettamant of the Dallas Police and Fire Pension System. “Today’s announcement means that North Texas families, commuters and employers will soon have much-needed and long-anticipated relief. We are proud to be investing in the future growth of the Metroplex.”
NTEMP3 will undertake the construction of the US$1.4 billion project to rebuild 6.5 miles of the existing main lanes of I-35W, construct new, expanded frontage roads and expand the highway with the addition of two TEXpress managed toll lanes in both directions, doubling the capacity of the highway. Construction is expected to begin this fall, with substantial completion in 2018. Segment 3B is being constructed by the
The TEXpress managed toll lanes, which will be implemented in Texas for the first time with the opening of the initial segment of the LBJ Express, will help to manage traffic flow by adjusting according to traffic speed and traffic volume.
“TEXpress Lanes will significantly enhance traffic flow in the region, especially for longer-trip commuters,” said Belen Marcos, CEO for NTEMP3
NTEMP3 is led by Cintra US, a world leader in the private-sector development of transportation infrastructure, and Meridiam Infrastructure, who has extensive expertise in global public-private partnerships as an investor/developer of public facilities. The equity members also include the Dallas Police and Fire Pension System and APG.
