Shannon N. Marshall 804-371-6844
July 28, 2011
VDOT ISSUES REQUEST FOR DETAILED PROPOSALS FOR ROUTE 460 CORRIDOR IMPROVEMENTS
Private sector teams to vie for right to develop and operate the new roadway
RICHMOND— The Virginia Department of Transportation (VDOT), in coordination with the Office of Transportation Public-Private Partnerships, issued a request for detailed proposals on July 28, 2011, to develop and operate a new Route 460 between Petersburg and Suffolk.
“This project is a top priority of the Commonwealth and will provide substantial benefits related to emergency evacuations and enhance the movement of freight to and from the ports,” said VDOT Commissioner Greg Whirley. “Additionally, the new Route 460 will provide greater connectivity between the Richmond/Petersburg and Hampton Roads regions increasing economic development opportunities and job creation.”
Cintra Infraestructuras S.A.U., 460 Partners, Inc. and Multimodal Solutions LLC submitted conceptual proposals in response to the agency’s solicitation seeking private partners with new ideas and innovative financing methods to move the project forward. Through recommendations of an independent review panel and Commonwealth Transportation Board resolution, each private sector team was advanced to the detailed proposal phase. Release of the request for detailed proposals initiates the next phase of the procurement and each private sector team is invited to provide VDOT with detailed proposals by the first quarter of 2012.
The project entails design and construction of 55 miles of new tolled roadway, located south of the existing Route 460 and includes seven intermediate interchanges to provide access to local communities along the corridor. The project will be financed through a combination of public subsidy, private investment, user fees and other innovative financing methods.
For more information on the U.S. Route 460 Corridor Improvements Project, visit the project website at www.route460ppta.org.
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