The North Carolina Turnpike Authority said Wednesday that it had taken possession of $1.01 billion in bond proceeds and federal loans – clearing the way for the NCTA to award the first construction contracts to build the state’s first toll road, the Triangle Expressway.
The authority awarded a $137.5 million contract to S.T. Wooten Corp. of Wilson for the Triangle Parkway segment of the Triangle Expressway, which will run in Wake and Durham counties. The Raleigh-Durham Roadbuilders – a joint venture of Archer Western Construction LTD and Granite Construction Co. ¬– received a $446.5 million contract for the Western Wake Freeway segment.
[From Triangle Business Journal]