The Skanska-led I-4 Mobility Partners team has achieved financial and commercial close with the Florida Department of Transportation (FDOT) for the financing, design, construction, operation and maintenance of the I-4 Ultimate Project in Orlando, Florida. “As Florida’s largest transportation project ever, and the largest greenfield public-private partnership in the US market to date, the I-4 Ultimate is demonstration of how P3s can solve critical infrastructure needs and how Skanska can be part of the solution,” says Johan Karlström, CEO and President of Skanska.
With a contract term of 40 years, the I-4 Ultimate is an availability payment-based, public-private partnership (P3) project. It involves the reconstruction of 15 major interchanges; reconstruction of over 140 bridges; four variable priced toll Express Lanes in the median; and the rebuilding of general use lanes along the entire 21 mile corridor.
“We made history today,” says Karl Reichelt, Executive Vice President of Skanska Infrastructure Development North America. “For millions of drivers who use Interstate 4, this project will improve safety and modernize the 21-mile corridor.”
I-4 Mobility Partners is comprised 50/50 of Skanska and John Laing as project sponsors and co-investors; Skanska, Granite and Lane (“SGL Constructors”) as the 40/30/30 construction joint venture; HDR and Jacobs for design; and Infrastructure Corporation of America for operations and maintenance. The total design/build contract for the project amounts to $2.3 billion, for which Skanska has a 40% share. Construction will begin in the first quarter of 2015 and is estimated to be completed by 2021.
For further information please contact:
Mary Humphreys, Skanska Infrastructure Development,
tel: +1 703 340 1235; +1 571 309 5943
Magnus Persson, Sr. VP Investor Relations,
+46 (10) 448 64 29; +46 (70) 238 52 64
Edvard Lind, Group Press Officer, Skanska AB,
tel: +46 (0)10-448 88 08 Direct line for media: +46 10 448 88 99