Florida Governor Rick Scott broke ground yesterday on the I-4 Ultimate Project, which will rebuild I-4 in metro-Orlando. The Project involves the reconstruction of 21 miles of I-4 from west of Kirkman Road in Orange County to east of State Road 434 in Seminole County and promises to bring much needed relief to one of the most congested highways in the state. Along with developing a signature corridor with aesthetic enhancements and landscaping to convey the Florida Experience, the Project will provide a choice to motorists by adding two variable priced toll express lanes in each direction while maintaining the existing free general use lanes.
At the groundbreaking ceremony, Governor Scott said, Today, I’m proud to announce that we have broken ground on the I-4 Ultimate project, a $2.3 billion investment that will dramatically improve and expand the I-4 corridor in the Orlando area. The I-4 Ultimate project will reduce congestion while continuing to make our roadways better, safer and easier for Florida families and our visitors. Transportation projects like this will encourage people and businesses from around the world to move to our state and keep us on a path to become the global leader in job creation.
The I-4 Ultimate Project is the third transportation P3 project in Florida developed through an availability payment structure, and is the largest availability payment transaction ever undertaken in the United States. Under the P3 concession agreement, I-4 Mobility Partners, a consortium led by Skanska Infrastructure Development and John Laing Investments, will design, build, finance, operate, and maintain the 21-mile stretch of interstate for 40 years. The use of a P3 for the I-4 Ultimate Project will help deliver the improvements nearly 20 years sooner than would the use of conventional methods. The Project is expected to be completed in 2021.
For more information on the I-4 Ultimate Project, please visit the project website at www.i4ultimate.com.
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