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

  • Boom in Asian infrastructure investment
    February 8, 2012
    Investment in China and India continues unabated, but other nations on the continent are eager to attract companies as Patrick Smith reports Asia is still booming despite the current economic crisis, and new infrastructure programmes are constantly coming on stream. Powerhouses China and India, with their double-digit growth figures and huge infrastructure plans (in scope and cost), are leading the way and are still magnets for businesses wishing to expand, both in terms of facilities and customers. But oth
    Read More
  • Modified asphalt trials in Brazil
    October 17, 2012
    An urgent need to improve and extend its road network means that Brazil is open to innovation and new ideas - the timing looks good for Kraton and its highly modified asphalt. Kristina Smith reports On 15th August Brazilian president Dilma Rousseff announced a US$66 billion (BRL 133 billion) investment package for the country’s road and rail networks. Of that, $21 billion (BRL 42 billion) is earmarked for the upgrade or construction of 7,500km of highways through a series of concessions. “We’re starting an
    Read More
  • The Russian government is set to revise roadbuilding standards and technologies
    May 29, 2013
    The Russian government is considering revising standards and technologies of roadbuilding in the country, writes Eugene Gerden. The aim is to accelerate implementation of one of the major public projects in the transport industry of Russia in the coming years: expansion of the road network from the current 900,000km to 1.3 million km by 2030 as part of the current Russian State Transport Strategy. According to a recent study, conducted by analysts of the Presidential Head Control Directorate, maintaining th
    Read More
  • Lower Thames Crossing gets green light
    March 26, 2025
    The 14.5-mile project near London will include a 2.6-mile tunnel under the Thames River and come at a cost of around £8.3 billion.
    Read More

Highlighted Content