Well, it now seems that the Metropolitan Washington Airports Authority approved a deal on Wednesday for the financing of the next part of its $6 billion Metrorail extension. Apparently, this group approved a financing deal for the next phase of this project. Overall, this move brings the project just one step closer to development.

This Metrorail extension will run to Loudon County. The very first phase of this project is being developed and is going to open up to travelers in December of 2013. However, there have been some concerns raised about the project being up to $150 million over budget.

The financing aspect for the Dulles rail extension has been in negotiation for years. It is one of the biggest problems this project has had to overcome. The hardest negotiation to overcome, besides financial problems, has been what part of the Dulles rail extension will be above-ground. Some people want to build the rail underground, but it will cost more.

Metropolitan Washington Airport Authority officials met with Transportation Secretary Ray LaHood for four months just to reach a deal. Thus, this has been a project long in the making. The group finally did agree, just last week, on a deal that will arrange how the partners will pay the $2.8 billion second phase. Each respective board has to sign off on this deal.

Under this deal, the project is expected to get federal loan assistance. Airport authority officials say that they anticipate to receive about $250 million in federal loans. Some people are put off by how much this project is going to cost.

Subscribe for free and recieve the latest Self-Catering-Breaks news and stories
Filed under Travel News

• Dulles Airport Gets Acquainted With New Train System
• Dulles Airport Gets Expansion

This entry was posted on Monday, November 21st, 2011 at 8:32 am and is filed under Travel News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.