On Thursday Virginia Gov. Terry McAuliffe said the government has approved a key-low interest loan required to build private toll lanes in I-66 between Gainesville and the Beltway.

A loan of $1.2 billion was approved by the government. This loan will allow private companies designing, building and operating the lanes to secure final financial backing.

This final financial backing is known as “financial close”. Final designs for the 22 miles in each direction were released. Construction will begin later this year and work ramping up along the length of the project area.

By A.s