Meridiam has reached financial close on its 16.2-mile Purple Line light rail transit project in Maryland, one of the first public-private partnership (P3) rail projects in the United States.
Meridiam, which holds 82 percent of the project, said this operation secures funding for the remainder of construction and for future operations and maintenance.
With 21 stations and 26 light-rail vehicles, the Purple Line project will connect to commuter rail systems and local bus services. Powered with electricity and emitting no carbon dioxide, Purple Line light rail is estimated to take 17,000 cars off the road daily and save about 1 million gallons of gas each year.
In November 2021, Maryland Transit Solutions (MTS) was procured as the project’s new design-build contractor. Full-scale construction of the light rail, which represents more than $2.5 billion of investments, will now resume with a target of completion in fall 2026.
“Today’s announcement brings
