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Transactions - DECEMBER 10, 2019

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MIRA and Skanska consider sale of Virginia toll road concession project

by Kali Persall

Macquarie Infrastructure and Real Assets (MIRA) and Stockholm construction company Skanska are considering buyers for the potential sale of their Elizabeth River Tunnels project, a toll road concession project in Virginia, according to Bloomberg.

The Virginia Department of Transportation and the Skanska and Macquarie consortium, Elizabeth River Crossings OpCo, operate the project, Skanska's first public-private partnership in the United States, according to the company’s website.

Started in 2012, the project includes the construction of a new tunnel under the river, adjacent to the Midtown Tunnel, significant rehabilitation, fire, life and safety improvements to existing Midtown and Downtown Tunnels, and the extension and modification of major local roads and interchanges.

The partnership also was responsible for completing operations, tolling and maintenance responsibilities for existing and new Elizabeth River Tunnels and associated roadways.

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