I-595

Despite the forbidding financial climate some big projects seem to be going to financial close, though others are delayed. Florida's 595 Express successfully closed March 3, with simultaneous signings of nearly $800m of bank loans and $200m in equity in New York City, some $700m of TIFIA loans in Washington DC, and contract document signings at District 4 FDOT offices in Ft Lauderdale.

Florida DOT has chosen a group led by ACS Infrastructure Development (ACSID) for an availability contract to redevelop I-595 in the Fort Lauderdale area with new toll lanes, bus lanes and improved interchanges in a deal that will cost $1,796 million. ACSID will provide the equity under which the group also including another Spain based toll and construction company Dragados and a Florida builder will design, build, finance, operate and maintain the facility for 35 years.

Two groups submitted proposals Friday for the approx-$1.5 billion upgrades to I-595, south Florida's east-west mega-highway/distributor project. It involves upgrades of the present 8 lane interstate with discontinuous frontage roads to a basic 19 lanes along 17km (10.5 miles) of the highway to a 3/5/3/5/3 lanes format, Texas style.