MARYLAND, USA — The private portion of Maryland's largest public-private partnership has pulled out of a deal with the state to expand I-270 with toll lanes.
On Thursday, Accelerate Maryland Partners (AM Partners) announced that the company have decided not to proceed with the Maryland Express Lanes Project. The organization submitted a notice to terminate to the Maryland Department of Transportation (MDOT).
AM Partners was originally selected for the project in February of 2021.
Since then, officials say extensive work has been undertaken on the project and several agreements have been reached with MDOT.
However, the project has continued to face challenges including significant delays to environmental approvals changing political landscape and environmental lawsuits that remain unresolved.
After numerous negotiation attempts by AM Partners, an agreement with MDOT could not be reached by the March 21 deadline.
Officials say choosing not to continue with the project enables operating funds from the project to be used for other purposes.
Transurban Chief Executive Officer, Scott Charlton said, “We continue to see positive growth potential in North America and the Greater Washington Area, with regional fundamentals including high levels of congestion and a growing population. Our current projects in GWA include the Fredericksburg Extension project on the 95 Express Lanes and the Northern Extension project on the 495 Express Lanes.”
“We remain disciplined in the pursuit of all opportunities, balancing growth in distributions and investment to create long-term value.”