Listed in the Texas Department of Transportation's 100 Most Congested Roadways, this segment of I-35E is traveled by nearly 200,000 vehicles daily.
The project will improve existing lanes of the interstate, provide continuous frontage roads and construct new, reversible managed toll lanes to keep traffic moving at 50 mph. Currently, there is $1 billion in funding available for the project. The ultimate build-out cost for all four phases of the project is estimated to be $4.8 billion. Future phases will be constructed as funds become available.
"As we continue to face challenges with transportation funding, public/private partnerships such as this one will remain essential components for addressing our state's mobility needs and spurring our economic prosperity," said Texas Transportation Commissioner Bill Meadows.
"Grand Parkway was awarded in September followed by I-35W last month and I-35E now," said Phil Wilson, TxDOT executive director. "These projects represent significant milestones in helping build out our infrastructure and providing more options to move people and goods around our great state."
AGL Constructors is a consortium comprised of Archer Western Contractors LLC, Granite Construction Co., and The LANE Construction Co.
Construction is slated to begin in 2013 with Phase 1 completion in late 2016.