Aussie firm dumps one VA toll road, new one struggles, too
Virginia: Transurban Ditches Old Toll Road, New One Struggles
Australian toll road company dumps an old toll road in Virginia as a newly opened route struggles.
The Newspaper.com
June 25, 2013
Virginia's transportation policy has been dominated by tolling. Both Governor Bob McDonnell (R) and his predecessor Tim Kaine (D) saw the use of public-private partnerships as a means of raising revenue for the state while claiming not to have raised taxes. The tolling push continues with the construction of tolling infrastructure on existing lanes of Interstate 95, even though similar projects in the state are struggling to stay afloat.
On June 14, the tolling firm Transurban announced it had given up on running Virginia's Pocahontas Parkway and would be surrendering the toll road to lenders by October. The Australian company wrote off the entire road as a $138 million loss last June.
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