New road deal for Transurban

TOLL road operator Transurban has reached a deal with a US state agency to extend a stretch of highway south of Washington DC.

The company says the Virginia Department of Transportation accepted its offer to extend the interstate 95 express lanes another 16km south in Fredericksburg, in Virginia, as well as the construction of new access points to the existing express lanes, including two new flyover ramps.

Transurban’s offer also includes an additional payment to the department of $US45 million and $US232 million ($57.4 million and $295.8 million) and at service commencement, in lieu of forecasted toll revenue sharing commitments. Construction is expected to begin in early 2019 and be completed in 2022.