News

Plans for High Occupancy Toll lanes on the Capital Beltway announced

In December 2007 Transurban's US investment fund DRIVe, of which CP2 owns 25%, reached financial close with the Virginia Department of Transportation allowing the Transurban consortium to design, build and operate High Occupancy Toll lanes on the Capital Beltway in Washington DC for a period of 80 years.

Traffic on the Capital Beltway has tripled since it was last expanded in 1977, making it one of the most congested traffic corridors in the US.

The US$1.4 billion construction program is due to start in Spring 2008 with a projected opening date of 2013. Construction will involve the addition of four new lanes along a 22km section of the Capital Beltway.

For more information please see the article from Transurban.