WASHINGTON – Virginia’s Beltway Express Lanes are starting out as a money-loser.
The Washington Examiner reports the lanes lost $11.3 million in their first six weeks of operation.
The lanes brought in $800,000 in tolls and $200,000 in fees and other revenue. But they cost $3.2 million to operate, and carried price tags of $7 million in financing costs and $2.1 million in depreciation.
The Examiner says the figures come from documents shown to investors by Express Lanes operator Transurban and were reported by TOLLROADSnews. The figures are reportedly in Australian dollars, which are similar in value to U.S. currency.
Transurban spokesperson Pierce Coffee tells the Examiner it’s too early to judge the lanes’ success.
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