Commonwealth Transportation Board Workshop Agenda 2026-05-19
I-495 Express Lanes Operated Under $1.4B P3 Deal
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Description
VDOT continues its long-term P3 concession with Capital Beltway Express LLC (Transurban and Fluor) to operate and maintain the I-495 Capital Beltway Express Lanes under a $1.4 billion, 50-year agreement. The project was financed using private activity bonds and a TIFIA loan.
Contract Details
Contract Amount
$1.4B
Vendor
CAPITAL BELTWAY EXPRESS LLC DBA TRANSURBAN + FLUOR
Agency
Virginia Department of Transportation, VA
Contract Type
TRANSPORTATION
Document Date
May 19, 2026
Contract Term
50-year concession
Renewal Info
50-year concession from opening in 2012; no renewal details stated beyond the concession term.
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