Transurban announces an exit on proposed Md. toll lane expansion

The departure of the lead partner in Maryland’s toll lane project witnessed mixed reactions from local officials. An Australia-based company that happened to be a leader a partner in the plan to build toll lanes to widen the llI-270 and parts of the Capital Beltway in Montgomery County had finally announced that they would exit the project. Transurban is also a lead partner in a consortium. It is even known as the Accelerate Maryland Partners, stating the start of the Friday business day in Australia. It was even announced that it would not proceed with the project. This announcement was made two weeks before when the company needed to meet a critical deadline by submitting its finance plan and its designs for a project. The company further declared that the project faced several challenges, including delayed environmental approvals, “a changing political landscape,” and unresolved lawsuits.

Tanya Shares statement recorded

Tanya Sheres, a spokesperson for Transurban North America, said, “Transurban is disappointed that we were unable to reach an agreement with Maryland to deliver the critical congestion relief that travelers across the region need and want. We respect Maryland’s decision to pursue alternatives – whether in project scope, delivery, or partnership.” She added, “As a long-term partner to governments in the region for more than a decade, we will continue to take a collaborative approach, working towards more connected travel choices across the Capital Region.” She said that the project is “not aware of any plans for litigation.” The project, first proposed by former Gov. Larry Hogan (R), was regarded as the country’s most significant public-private partnership. An initial predevelopment contract for the project was given to Transurban and the consortium members. This was meant to build as well as manage the expanded highways. It would further recoup the project cost— estimated at $7.6 billion over 50 years via toll collection. Since last year, Gov. Wes Moore (D) has shared a chance for change regarding the plan’s directionorman, Ross, and Wiedefeld’s statements recorded.
Maryland Transportation Secretary Paul Wiedefeld stated that his agency was “committed to delivering a new American Legion Bridge and transportation solutions that relieve traffic congestion throughout this corridor and promote equity and environmental protection.” He further talked about a renewed effort to meet up to the expectations of the local leaders and the residents. Moore said, “The termination of the Phase P3 Agreement has no bearing on the approved federal Record of Decision for Phase 1 South or the state’s commitment to addressing congestion issues affecting the region.” He added, “Because AM Partners executed its contractual right not to proceed, MDOT does not owe any payment to AM Partners. The state remains committed to continuing progress and will move forward in a manner that ensures social equity, environmental protection, and engagement with local partners while always acting in the best interest of taxpayers.” Also, Korman said, “P3s are an executive-driven process. If this is where the P3 is, we must work together and see what’s next.” He said, “I trust we will now have a more honest and cooperative process.” Lastly, Ben Ross, the founder of the Maryland Transportation Opportunities Coalition and a leading critic of the toll lanes plan, said, “It’s fantastic news. It means we can start building a balanced transportation system in Maryland, where it’s as easy to get around by transit as it is by driving.”
Resources:
https://wtop.com/maryland/2023/03/transurban-announces-it-will-exit-proposed-toll-lane-expansion/