The project is expected to be financed using equity, debt and a loan as part of the US Department of Transportation's Transportation Infrastructure Finance and Innovation Act(TIFIA). Skanska’s share of the equity investment will be 50%. The total amount of the contract for construction and design is expected to be about USD 2.3 billion, of which Skanska’s share is 40 percent. No order bookings or investments will be accounted for until financial close, which is expected during the second half of 2014. Construction is expected to start in the first half of 2015, with estimated completion end of 2021.
Skanska Infrastructure Development is a leader in the global Public Private Partnerships (PPP) market. The business unit invests in, develops and operates roads, hospitals, schools, power plants and other social infrastructure in partnership with the public sector.