RICHMOND, Va. --- The Virginia Department of Transportation has reached an agreement that will permit construction of high-occupancy toll (HOT) lanes on the Capital Beltway in northern Virginia. According to a report from the Gray Television Group, the public-private project will cost about $1.7 billion and is expected to be finished in 2013. The agreement calls for two private contractors, Transurban and Fluor, to design, build, operate and maintain the HOT lanes. The lanes will be built along 14 miles on the beltway. When completed, these lanes will be open to vehicles with at least three occupants.

Originally posted on Fleet Financials

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