Meridiam-led Consortium Successfully Reaches Financial Close on SR 400 Express Lanes Project

WASHINGTON, DC – Meridiam, together with Acciona and ACS Infrastructure—known as the SR 400 Peach Partners consortium (the “Consortium”)—today announced its SR 400 Express Lanes Project (the “Project”) has successfully reached financial close. The financial close comes after the Georgia Department of Transportation (GDOT) named the Consortium as Best Value Proposer in August 2024 and the Project reached commercial close in November 2024. Construction is expected to be completed by Spring 2031.

The total investment for the project is approximately $11 billion including the almost $3.9 billion partnership with the US Department of Transportation (USDOT) via the largest ever Transportation Infrastructure Finance and Innovation Act (TIFIA) Loan to date[1] and a $3.4 billion Private Activity Bonds issuance. The project will also benefit from early work payments and future transit payments from the State Road and Tollway Authority (SRTA).

Under a nearly 56-year design, construction, finance, operation, and maintenance (DBFOM) contract with the SRTA, the Project will provide faster, safer, and more reliable travel options for daily commuters in Fulton and Forsyth counties by:

• Upgrading a 16-mile-long corridor in the north of Atlanta, with additional dynamically tolled free-flow express lanes in each direction;
• Upgrading several key bridges along the route;
• Constructing two stations for MARTA’s Bus Rapid Transit line, which will ride for free in the Express Lanes;
• Incorporating a state-of-the-art traffic management solution that will streamline traffic flow and alleviate congestion during peak hours.

The new SR 400 Express Lanes will improve public accessibility and foster local economic growth, while minimizing traffic disruptions through careful phased construction planning. The Project’s design and construction will be carried out by a joint venture between Flatiron-Dragados and Acciona, while the Consortium will oversee operation and maintenance under a dedicated project company.

“As long-term partners to GDOT and SRTA, Meridiam’s work alongside the full SR 400 Peach Partners consortium to bring reliable and safe travel to the Atlanta community has only just begun,” said Nicolas Rubio, Meridiam Chief Executive Officer, Americas. “We are looking forward to breaking ground on such a transformative project that will reduce traffic congestion and improve the daily commute for hundreds of thousands of motorists for decades to come.”

The Project joins a portfolio of five other managed lanes projects in North America. As the number one public-private transportation developer in the US[2], Meridiam manages investments in several roadway projects including the North Tarrant Expressway project in Texas, the I-66 Express Lanes Outside the Beltway project in Virginia, the Central 70 Highway in Colorado, and the Presidio Parkway project in California.

[1] The US Department of Transportation

[2] Public Works Financing: https://mcusercontent.com/2dc35bf523fd2ebcd692bb8e6/files/0a044a39-3512-5354-c24c-50da07a373a0/PWF_May_2024.pdf?mc_cid=54b92efa01&mc_eid=45f861f308