The Lane Construction Corporation, the U.S. subsidiary of Webuild Group, announced it has been selected as the contractor to build Virginia’s 495 Express Lanes Northern Extension, also referred to as 495 NEXT, in partnership with Transurban, a leading global toll road developer and operator. The contract is valued at $441 million.
The project is a critical component of travel in one of the most congested regions of the United States, the Washington, D.C. Capital Region. These improvements are being closely coordinated with plans for Maryland’s future Express Lanes along I-495 (Capital Beltway) as part of a larger effort to enhance planned multimodal mobility and connectivity in the area, including the rebuild and expansion of the American Legion Bridge between Virginia and Maryland.
As the population continues to increase in the Washington, D.C. region, increased traffic volumes and limited travel choices create frequent bottlenecking and congestion. 495 NEXT will extend the existing I-495 Express Lanes for 2.5 miles from south of Old Dominion Drive northward to the George Washington Memorial Parkway adding two high occupancy travel (HOT) lanes in each direction. The project, when completed, will help provide more consistent, reliable, and predictable travel times for commuters and freight movement in and around the region. Construction will start in 2022 and be completed in 2025.
The design-build, public-private-partnership (P3) project is being developed by Transurban for the Virginia Department of Transportation (VDOT). It adds to Lane’s history as a contractor of choice for Transurban, having completed multiple projects in the area under the partnership; most recently the $336 million 395 Express Lanes project – delivered on time and on budget and now in service for Transurban’s customers.
“Lane is looking forward to its continued partnership with Transurban to further enhance the traveler’s experience in one of the most congested travel areas in the Washington, D.C. metropolitan region,” said Mark Schiller, President and CEO of The Lane Construction Corporation.
“Together, Transurban and Lane have an established track record delivering transformational transportation projects on time and on budget throughout Northern Virginia,” said Pierce Coffee, president Transurban North America. “We look forward to getting to work to deliver safer and more reliable travel choices, while seeking to minimize impacts for communities and drivers of the 495 corridor.”