Purple Line Transit Partners and Maryland’s transport authorities have achieved financial close on the $5.6 billion Purple Line extension project.
Finalisation of the Public-Private Partnership contract will allow the Purple Line Transit Partners consortium to proceed with the project, which will extend the Purple Line 26 kilometres from Bethesda, Montgomery County, to New Carrollton in Prince George’s County.
All the funding is now in place following confirmation of $875 million in federal funding from a Transportation Infrastructure Finance Innovation Act loan and a further $313 million in Private Activity Bonds from the Maryland Economic Development Corporation.
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