The U.S. Dept. of Transportation has approved two low-interest Transportation Infrastructure Innovation and Finance Act (TIFIA) loans to help finance elements of Virginia’s $2.7-billion program to upgrade its stretch of Interstate-81—a busy truck route—in the western part of the state.
The TIFIA loans, which U.S. DOT announced on Dec. 12, total $97.6 million and will cover a portion of the estimated $263-million cost of a dozen individual projects, according to the Virginia Dept. of Transportation.
