The finalization of the financial agreements for a $5.6-billion public-private partnership to build and operate the Purple Line in Maryland has been pushed back by two weeks, but construction on the 16.2-mile light-rail line is still on schedule to begin late this year, a state official said Wednesday.
Erin Henson, spokeswoman for the Maryland Department of Transportation (MDOT), said state officials agreed to delay the so-called “financial close” from June 2 to June 17 to give the companies in the 36-year public-private partnership more time to finalize their loans.
She said the companies — a consortium called Purple Line Transit Partners — agreed to hold their price and keep construction on its initial schedule. State officials have said construction will start in November or December, and the line will carry passengers by spring 2022.
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