Texas Department of Transportation and the Blueridge Transportation Group (BTG) have achieved financial close on the SH 288 Public-Private Partnership (P3) project. BTG is under contract to build a 10.3-mile toll road in Harris County, Texas and is responsible for financing, designing, and reconstructing the project along with the operation and maintenance of the corridor for a total of 52 years. The value of the project is estimated at over $1 billion, with design and construction improvements valued at $815 million. The design and construction work will be undertaken by a joint venture of construction companies led by Dragados USA and Pulice Construction, together holding 50%, and Shikun & Binui America (50%).
Stantec will be responsible for the project’s design. The Federal Highway Administration’s Transportation Infrastructure Finance and Innovation Act (TIFIA) program provided part of BTG’s funding for the project. The four-lane toll road will connect southern Harris County to the Texas Medical Center in downtown Houston with eight direct connectors at Beltway 8. Construction is anticipated to begin in the fourth quarter of 2016 and is projected to be complete by the second quarter of 2019.