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I-4 is Florida's largest transportation project in its history and one of the largest transportation P3s in the US.
The project includes reconstruction of 21 miles of I-4 from west of Kirkman Road in OrangeCounty to east of State Road 434 in SeminoleCounty. The project includes reconstructing 15 major interchanges; constructing more than 145 bridges; adding four variable priced toll Express Lanes in the median; and completely rebuilding general use lanes along the entire corridor.
Work also includes installation of tolling gantries and facilities, lighting, and intelligent transportation system, MSE walls, barriers andfencing. Landscaping the project will include30,000 trees and 68,000 shrubs, most native varieties.
Niklas FranckSenior Director, Communications & MarketingSkanska Infrastructure Development+1 571 225 4246
E-mail Niklas Franck
Service: Public Private Partnerships
Market segment: Transportation hubs
Concept: Skanska Values
The I-4 Ultimate is Florida's largest transportation project in its history. This public-private partnership will improve safety and efficiency in a 21-mile section of Interstate 4, which serves the world-leading destinations of Orlando. Four variable-priced Express Lanes will be constructed in the median, 15 major interchanges will be reconstructed; more than 140 bridges will be built; and the general use lanes along the entire corridor will be rebuilt.
The project includes responsibilities for design, construction, finance, operations and maintenance for 40 years, beginning September 2014. Construction is scheduled to begin in 2015 and conclude in 2021. The total design-build contract is USD 2.3 billion, of which Skanska’s share is 40 percent. Skanska is a 50 percent shareholder of the project company, I-4 Mobility Partners, and it will invest up to approximately USD 73 million of equity and subordinated debt.
At financial close, the project received the largest TIFIA loan the US Department of Transportation has ever awarded to a public-private partnership. The project is availability payment-based; tolls from the Express Lanes will be set and retained by the Florida Department of Transportation.
Quality of life, safety and efficiency improvements will result from the I-4 Ultimate. The roadway currently serves more than 1.5 million trips daily and was originally constructed more than 50 years ago. The I-4 Ultimate will modernize the corridor and improve safety by improving the designs of exits and interchanges.
The I-4 Mobility Partners solution reflected a "signature corridor" design that reflected the communities along the corridor and provided cost-saving, significant technical enhancements. This includes a direct connection from the Express Lanes to State Road 408; additional auxiliary lanes and an additional pedestrian bridge along the facility—all while staying below the client’s affordability limit. I-4 Ultimate will relieve congestion experienced in route to some of the world’s most popular travel destinations, including Walt Disney World, Universal Orlando Resort and Sea World Orlando.