Funding issues for Georgia projects

Problems are appearing with regard to plans for transport funding set out by the Georgia Department of Transportation.
February 28, 2012 Read time: 1 min
Problems are appearing with regard to plans for transport funding set out by the 3328 Georgia Department of Transportation. The body was refused a loan of US$375 million from the US Federal Government for the I-575 and I-75 toll lane projects. The projects would be worth around $1.4 billion combined and are located in Cherokee and Cobb counties. The loan would have been repaid through toll collection on the links. The loan programme through which the funds were being sought is part of the Transportation Infrastructure Finance and Innovation Act.

It has been highlighted that even with the loan, the project would still require public tax revenue worth up to $350 million, as well as toll revenue. That represents more than the whole road-widening budget provisioned by the state for the last fiscal year. In addition, the state is also looking at more toll lane projects so that metro Atlanta has a managed lane network. The cost of that to road users could be up to $7 billion.

For more information on companies in this article

Related Content

  • Washington DC’s historic bridge replacement project
    June 11, 2019
    The project to replace a historic bridge in US capital Washington DC is providing major challenges for its builders - Mike Woof writes
    Read More
  • Moscow to invest $20 billion in massive road-building by 2015
    March 28, 2014
    A huge investment in road building will expand Moscow’s network – Eugene Gerden reports The government of Moscow plans to invest more than RUB 640 billion (US$20 billion) during the period of 2014-2015 .in a massive investment of road building in the city. This is expected to be part of Moscow city’s Master Plan, which is designed until 2025. Building of new roads is crucial for Moscow and should help the city to solve the problem of traffic jams. Despite all the efforts made by the city’s authorities in re
    Read More
  • A new tunnel project for Turkey is a significant move
    December 12, 2012
    The European Bank for Reconstruction and Development (EBRD) is supplying a finance package worth US$150 million for the new Bosphorus crossing project in Turkey. Running under the Bosphorus at Istanbul, the new tunnel will connect both European and Asian sides of the city. The EBRD’s $150 million loan completes $1.4 billion worth of financing required for the Eurasia Tunnel project, being built under the Bosphorus straits. Other components of the $1.4 billion financing package for this PPP project include a
    Read More
  • Congestion improves with high occupancy toll lanes
    March 13, 2012
    The potential for high occupancy toll (HOT) lanes in congested US cities offers further room for development, according to US-based transport expert Bob Poole of the Reason Foundation.
    Read More

Highlighted Content