Sustainability and green
The I-4 Ultimate is Florida's largest transportation project in its history. This public-private partnership will improve safety and efficiency in a 21-mile section of Interstate 4, which serves the world-leading destinations of Orlando. Four variable-priced Express Lanes will be constructed in the median, 15 major interchanges will be reconstructed; more than 140 bridges will be built; and the general use lanes along the entire corridor will be rebuilt.
The project includes responsibilities for design, construction, finance, operations and maintenance for 40 years, beginning September 2014. Construction is scheduled to begin in 2015 and conclude in 2021. The total design-build contract is USD 2.3 billion, of which Skanska’s share is 40 percent. Skanska is a 50 percent shareholder of the project company, I-4 Mobility Partners, and it will invest up to approximately USD 73 million of equity and subordinated debt.
At financial close, the project received the largest TIFIA loan the US Department of Transportation has ever awarded to a public-private partnership. The project is availability payment-based; tolls from the Express Lanes will be set and retained by the Florida Department of Transportation.