Cintra, Meridiam-led Consortium Named Preferred Proposer For Virginia's Transform 66 Outside The Beltway Project

Consortium to invest more than $3 billion in the Commonwealth of Virginia

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Nov 03, 2016, 03:24 ET

RICHMOND, Va., Nov. 3, 2016 /PRNewswire-USNewswire/ -- The Commonwealth of Virginia today named I-66 Express Mobility Partners as the Preferred Proposer for the Transform 66 Outside the Beltway project. The Cintra and Meridiam-led consortium will design, build, finance, maintain and operate the I-66 Outside the Beltway project designed to relieve congestion, improve safety and provide more predictable travel times for Northern Virginia and the Washington, D.C. metro region.

Cintra and Meridiam bring global experience delivering large scale infrastructure projects like the much-recognized LBJ Express and North Tarrant Express projects in the Dallas-Fort Worth Metroplex. Both roadways are significantly alleviating traffic congestion and achieving high levels of customer satisfaction.

"It's a privilege to be selected as the Preferred Proposer for this critically important, highly innovative transportation project serving residents and businesses in and around the DC Metro area," said Belen Marcos, United States president of Cintra. "Our consortium is proud to be bringing our experience delivering state of the art infrastructure projects that connect people to their home, work and communities."

"The Commonwealth's vision for Transform 66 is something we share, and our commitment to provide an innovative mobility solution for this key region of the US is unwavering. We're ready to put the full breadth and depth of experience of all of our I-66 Express Mobility Partners consortium members to work for Northern Virginia and DC Metro area residents," said Jane Garvey, chairman, Meridiam North America.

The Transform I-66 Outside the Beltway Project extends 22 miles along the Interstate 66 corridor between US Route 29 near Gainesville, in Prince William County and Interstate 495 in Fairfax County, with a total investment of more than $3 billion. The project includes:

Three toll free lanes in each direction;
Two express lanes in each direction with a state-of-the-art open-road electronic toll collection system;
Direct access between the express lanes and new or expanded commuter lots;
New and expanded transit service and park-and-ride lots; and
Interchange improvements to enhance safety and reduce congestion, including auxiliary lanes between interchanges, where needed.

In addition to Cintra and Meridiam, I-66 Express Mobility Partners includes lead contractors Ferrovial Agroman US Corp. and Allan Myers VA, Inc.

"Together with our consortium partners, we are committed to a long-term partnership with the Commonwealth of Virginia to address area transportation needs. Transform 66 and our work on this project will enhance mobility while delivering economic growth and job opportunities across the region," said Carlos Ugarte, global business development director for Cintra.

About Cintra
With US headquarters in Austin, Texas, Cintra is a subsidiary of Madrid-based Ferrovial. Cintra is the leading private-sector transportation infrastructure company in the world, with experience spanning nearly 50 years of innovative highway development on four continents. Today, its portfolio includes more than 1,200 miles of managed highways globally, representing a total global investment in roadway improvements of over $21.6 billion. Cintra manages nearly $8 billion of infrastructure projects in the United States and more than $4.7 billion of infrastructure projects in Canada.

About Meridiam
Founded in 2005, Meridiam is an independent investment firm specializing in the development, financing and management of long-term public infrastructure projects. With offices in Paris, New York, Toronto, Istanbul and Dakar, Meridiam is a leading investor in public infrastructure across Europe, North America and Africa. Currently managing €5 billion ($5.5 billion) of assets, the firm has to date invested in 49 projects. Designated Global Infrastructure Fund of the Year for the fourth time in 2015 by IJ Global, Meridiam is one of the first investors and asset managers to receive ISO 9001 certification for its responsible investment process and is a founding member of the Long Term Infrastructure Investors Association.