Public-Private Partnership Delivers Express Lanes
The 495 Express Lanes are the product of a public-private partnership between the Virginia Department of Transportation, the Virginia Department of Rail and Public Transportation, the Federal Highway Administration and Transurban-Fluor.
Fluor Virginia and Transurban DRIVe USA LLC (Fluor-Transurban) made a substantial investment upfront to fund construction of the lanes and Transurban will operate and provide routine maintenance for the lanes. Both Fluor and Transurban are experienced infrastructure developers and Transurban is a global leader in the customer-focused operation of toll roads. Fluor is partnering with Lane Construction to design and build the 495 Express Lanes.
VDOT will continue to own and oversee the road.
Virginia Department of Transportation
The Virginia Department of Transportation (VDOT) is responsible for building, maintaining and operating the Commonwealth’s roads, bridges and tunnels. Through the Commonwealth Transportation Board, it also provides funding for airports, seaports, rail and public transportation. Virginia has the third-largest state-maintained highway system in the country - more than 58,000 miles - just behind North Carolina and Texas. VDOT is a consistent leader in finding innovative ways to meet the demands of the traveling public. VDOT uses public-private partnerships to maximize its ability to serve the needs of Virginia. It has proven its success in recent endeavors with honors such as the Governor’s Technology Award, Transportation Safety Board General Traffic Safety Award and many other awards in recent years.
The Virginia Department of Rail and Public Transportation
The Virginia Department of Rail and Public Transportation (DRPT) is the state agency for rail and transit in Virginia. DRPT develops transportation choices for the movement of people and goods both within and through the Commonwealth. With three business areas of rail, transit and congestion management, DRPT delivers programs that provide congestion relief, promote economic development and increase mobility.
Established in 1996, Transurban Group is a toll road owner and operator with interests in the United States and Australia. The company's focus is on partnering with governments to deliver roads that meet community needs over the long term. Transurban Group's head office is in Melbourne, Australia. Other Transurban offices are in Sydney, New York, the Washington, DC area and Richmond, Virginia. Transurban employs around 600 people and serves more than 5 million toll road customers worldwide. The company has been on the Dow Jones Sustainability Indexes World List since 2006. Transurban has an agreement with the Virginia Department of Transportation (VDOT) to manage and operate the Pocahontas Parkway in Richmond, Virginia and is currently developing the 495 Express Lanes in partnership with Fluor and VDOT.
Fluor Corporation is one of the world's largest, publicly owned engineering, procurement, construction, and maintenance services companies. Over the past century, Fluor, through its operating subsidiaries, has become a trusted global business leader by providing exceptional expertise and technical knowledge across every phase of a project. Clients rely on Fluor to deliver world-class solutions that optimize their assets, improve their competitive position and increase their long-term business success.
Consistently rated as one of the world's safest contractors, Fluor's primary objective is to develop, execute and maintain capital projects on schedule, within budget and with operational excellence. Fluor has been a pioneer in the development and coordination of innovative public-private partnerships for major transportation programs across the United States. Fluor was instrumental in the development of the first-of-a-kind, privately financed, design-build toll road projects in Virginia, Texas and Colorado. In Virginia, Fluor led the development, financing, design and construction of the 8.8 mile Pocahontas Parkway near Richmond, Virginia, the first capital project to be developed under Virginia’s Public-Private Transportation Act.
The Federal Highway Administration
The Federal Highway Administration (FHWA) is an agency within the U.S. Department of Transportation that supports State and local governments in the design, construction, and maintenance of the Nation’s highway system (Federal Aid Highway Program) and various federally and tribal owned lands (Federal Lands Highway Program). Through financial and technical assistance to State and local governments, the Federal Highway Administration is responsible for ensuring that America’s roads and highways continue to be among the safest and most technologically sound in the world.