Background:

The Interstate Highway 35W (IH 35W) Corridor through Tarrant County (Texas) is one of the oldest, most highly congested, demand-critical, and mobility-constrained corridors in the Fort Worth region. The NTE 3A-3B project, completed in July 2018, provides 10 miles of managed lanes on the IH-35W and upgrades to the interchange with the IH-820 in Fort Worth, which also connects to the NTE 1-2 Managed Lanes Project on the IH-820. Six miles of the Project (segment 3A) were developed under the P3 concession, while four miles (segment 3B) were developed by TxDOT through a Design-Bid-Build procurement and transferred to the concessionaire to operate & maintain.
In August 2019, the Project Company financed a $900 million change order with TxDOT to develop Segment 3C, an additional 7 miles of Managed Lanes and upgrades to the free lanes on IH 35W north from the 3B Project. The financing included an additional equity ticket of $160 million with MINA II funding $20 million.
In 2016, the Dallas Police and Fire Pension System decided to exit its investments in infrastructure assets and agreed to sell its units to the other members. Meridiam increased its stake by 3.55% in the Project Company, bringing the total to 17.49%.

Stage:

3A3B: In Operations since 2018
3C: In Operations since June 2023

ESG/SDG Key Facts:

In 2022, a compliance policy reinforcing the company’s ethics standards was implemented. The policy was reviewed by Meridiam’s internal compliance team and seen as aligned and a positive upgrade. The Project Company delivered $106 million of the contract value from Disadvantaged Business Entity (“DBE”) subcontractor firms against a commitment of $70 million.

Solar panels have been installed on the roof of the administrative buildings, which are shared with LBJ and NTE. These solar panels have a power production capacity of 200kW and an estimated energy production of 305MWh per year, representing ~30% of the overall administrative building electricity consumption.

A commitment of Science, Technology, Engineering, and Mathematics (“STEM“) grants has been made to several school districts/foundations in the community.

The Project Company is working to quantify the economic benefits of North Tarrant Express Segment 3.

SDG 7 (Affordable and Clean Energy)

The North Tarrant Express Segment 3 energy supply contracts have been changed to 100% renewable energy-based providers. The Project Company is looking into the ability to receive a green certification.

SDG 11 (Sustainable Cities and Communities)

Collect and analyze traffic accident data with the aim to improve Managed Lanes’ safety. The Project Company has also installed EV charging points along the road.