Virginia ticks US$18.6 bn infrastructure spend
By Mike Hayes01 July 2017
The US state of Virginia has announced a budget of US$18.6 billion for its latest Six-Year Improvement Program, in an effort to revive its ailing infrastructure.
In June, the Commonwealth Transportation Board approved the budget, to be allocated to the Virginia Department of Transportation and the Department of Rail and Public Transportation.
The sum of US$15.2 billion has been earmarked for highway construction, with US$3.4 billion allocated to rail and public transportation projects.
Lane Construction, a subsidiary of Italy’s Salini Impregilo, has a strong presence in the state; the group’s CFO, Massimo Ferrari, said the announcement was “extraordinary news for the group”.
He said, “Lane has a historical presence in Virginia, which it increased with the acquisition of Asphalt Road and Material in Virginia Beach in 2016.