Transurban and Virginia to Invest More Than $1b in Northern Virginia transportation

Company News

by Anna Napoli

Last Movement
$15.050 $0.100 0.67%
Data Source:
Last Updated: 6/12/2019 3:59 PM

Transurban (ASX:TCL) and The Commonwealth of Virginia have inked a deal worth  $1 billion to deliver transportation solutions along Interstate 495 and Interstate 95.

The project involves and extension of the 495 express lanes for 3.2 kilometres to the Maryland border.

Transurban CEO Scott Charlton says the development agreement provides a clear path to finalise commercial agreements for the extension.

Virginia Department of Transport will deliver further improvements through the corridor including the construction of a new lane on the interstate 95 in Woodbridge.

Shares in Transurban Group (ASX:TCL) are trading 0.33 per cent lower at $12.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.