Private Financing of Infrastructure Still a Going Concern

By November 27, 2008Infrastructure

The big transportation story down in the Tidewater region of Virginia is the Nov. 8 closure of the Jordan Bridge between Chesapeake and Portsmouth, a key transportation route across the Elizabeth River. Major structural problems …

And to replace it? “Norfolk mayor seeks no-toll replacement for Jordan Bridge“:

Norfolk Mayor Paul Fraim said he will urge state officials to build a new, toll-free Jordan Bridge between Chesapeake and Portsmouth.

Fraim said he will ask state officials to bundle the replacement of the Jordan Bridge with a proposal made from a private group to expand the Midtown Tunnel.

Skanska, a Swedish construction firm, is leading a group that offered the state a $2 billion proposal to expand the Midtown Tunnel, build the Martin Luther King Freeway Extension in Portsmouth, and improve the Downtown Tunnel.

The group, Elizabeth River Crossings, would levy tolls and operate the roads and tunnels for 50 years. The group has proposed tunnel tolls as high as $3. Fraim has said a toll of $1 likely would be charged.

The toll on the Jordan Bridge, constructed 80 years ago, was 75 cents.

Skanska is involved in many construction projects in Virginia and the Tidewater area.

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