495 and 95 Express Lanes Robert Deans – Transurban November 17, 2016
495 and 95 Express LanesRobert Deans – Transurban
November 17, 2016
TransurbanOVERVIEW
• International infrastructure investor
and toll road operator
• Top 20 company on the Australian
Securities Exchange (ASX)
• Assets in United States and
Australia
• Unique long-term operator model
aligns with governments’ needs
• VDOT partner on 495 and 95
Express Lanes in Virginia
$3 billion in transportation
improvements
Choice for faster, more reliable trip
Time savings and faster speeds
for general purpose lanes travelers
New and more efficient systems
for HOV and transit
Customers see value for tolls they
pay 3
Virginia Express LanesOVERVIEW
• 35-40 minutes average time savings per daily
commute
• 2.5 hours maximum time savings for one trip
(Springfield to Stafford)
• 17.5 minutes average time savings per trip on I-95
regular lanes
• 1.5 minutes average time to detect an incident on the
Express Lanes
• 5 minutes average response time for our dedicated
Express Assist
• 15% reduction in accidents on HOV Lanes since
conversion to Express Lanes
ECONOMIC BENEFITS1
4
TIME SAVINGS2
TRANSIT/HOV BENEFITS SAFETY
• $6.3 billion generated in economic activity
• 28,000 jobs supported
• $765 million in DBE/SWaM contracts
• 27,000+ HOV trips per weekday on Express Lanes
• 34% of weekday trips on 95 Express Lanes are
HOV/carpools
• 805 bus trips per weekday on Express Lanes
1 George Mason University, 2008 & 2012. 2Traffic Analysis Sept 2016 Quarter
Express Lanes BenefitsSTRENGTHENING COMMUNITIES THROUGH TRANSPORT
Consumer ResearchSTRONG PUBLIC SUPPORT
Slightly more female
55% - 45%
25-45 years old
Full-time worker 80%
Parents 40%
Customer Profile
6
Travel Times:EXPRESS LANES VS. UNRELIABLE REGULAR LANES
Source: Regional Integrated Transportation Information System (RITIS)
0
50
100
150
200
250
July Aug Sept
GP Travel Time EL Travel Time Worst GP Travel Time
$1.9B
$7.3B
$2.8B
Public Subsidy Construction O&M MajorMaintenance
$0.9B
$6.1B
$2.5B
Public Subsidy Construction O&M MajorMaintenance
STATE
CONTRIBUTION
$82.6 M
Total Project Benefits1
Direct returns >110 times State investment
1. Operations, Maintenance and Major Maintenance values represent sum of budgeted future expenditures (nominal) over the remaining Concession term
2. Dr. Stephen Fuller, George Mason University, “Economic Impact of Construction Outlays for the 95 Express Lanes on the Commonwealth of Virginia, the Washington Metropolitan Area, and the Local Jurisdictions”,
August 2012.
7
P3 Purchasing PowerRETURNS ON STATE INVESTMENT
• No public sector risk of construction cost overruns
• Private partner incurs significant penalties for late completion
• Full apportionment of revenue risk to private partner with revenue sharing opportunities
Risk Transfer
Benefits
STATE
CONTRIBUTION
$409.0 M
Total Project Benefits1
Direct returns >29 times State investment