The Commissioner has recommended to the Commonwealth Transportation Board that the scheme be procured as a design, build, finance, operate, and maintain (DBFOM) project.
Procurement will now proceed to draft RFP stage with the three teams that submitted qualifications for a revenue risk concession delivery method.
The three teams, which include the likes of Transurban, Skanska, Cintra, Meridiam and InfraRed, were shortlisted for the deal in October, having submitted bids without knowing the model under which the scheme would be procured.
Speaking at P3 Hub East ahead of the announcement, Virginia Transportation Secretary Aubrey Layne told delegates that P3s are “an invaluable tool and a big part of the long-term strategy going forward”.
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