InfraRed’s Infrastructure Fund III has reached financial close on the SH 288 Toll Lanes project and has committed to invest $81m for a 22% stake, which makes it the equal largest investor, alongside the contractors ACS and Shikun & Binui, (the balance of equity is shared amongst a small number of other financial investors).
The project comprises a 52-year concession for the design, construction, financing, operation and maintenance of a 10.3 mile segment of SH 288 in Houston, Texas, USA. The project will include four new tolled lanes (two in each direction), a number of direct connectors to existing road infrastructure and the operation of existing general purpose lanes. The concessionaire will earn revenue from tolls collected from the users of the toll lanes.
