Georgia proceeds with Northwest corridor
Following a review of the project, State Transportation Board Chairman Rudy Bowen said Georgia’s Department of Transport (GDOT) will proceed with the project as a design, build, finance scheme as part of its P3 programme.
The private partner will be responsible for initially funding 10-20% of the project cost, to be repaid by the state. However the state will retain control of the highway both during and after construction and determine tolling rates.
The project will build two new managed lanes along the west side of I-75 between its interchanges with I-285 and I-575. The lanes will be separated from the existing interstate and will be reversible so that both will carry traffic southbound during peak times. Above the I-575 interchange, one new reversible lane will be added to the I-75 and a similar new I-575 lane will extend to Sixes Road. The total length of the project is approximately 30 miles.
Earlier this year, the Georgia General Assembly designated $300m of state motor fuel taxes carried over from previous years to the project.
The state has been approved to apply for a $270m low-interest TIFIA loan guarantee from the federal government and GDOT has pledged $200m from its construction budget.