The Florida Department of Transportation (FDOT) announced today that it has selected I-4 Mobility Partners as the apparent best value proposer to design, build, finance, operate and maintain the I-4 Ultimate project. The I-4 Ultimate project contemplates a 40-year availability payment contract at a total design and construction cost of $2,323,000,000.00 in year of expenditure dollars. This cost is approximately $860 million less than the highest proposal received by FDOT at $3,180,033,233.90 in year of expenditure dollars. Commercial and financial close is expected to occur later this summer.
The members of the I-4 Mobility Partners team include the following:
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Skanska Infrastructure Development Inc. (Equity Member)
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John Laing Investments Limited (Equity Member)
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Construction Joint Venture – Skanska USA Civil Southeast Inc., Granite Construction Company, and the Lane Construction Corporation (Lead Contractor)
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Design Joint Venture – HDR Engineering, Inc. and Jacobs Engineering Group, Inc. (Lead Engineer)
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Infrastructure Corporation of America (Lead Operations and Maintenance firm)
The project includes the reconstruction of 21 miles of I-4 from west of Kirkman Road in Orange County to east of State Road 434 in Seminole County. The I-4 Ultimate project adds four tolled express lanes to I-4 while maintaining the existing free general use lanes, providing a choice to motorists. The express lanes will be operated with variable tolls which will be adjusted to improve traffic flow throughout the corridor. FDOT will retain the toll revenue and will control the toll rates.
The FDOT press release can be found on the project website.
