TIFIA loan approval cements $3.7 billion Mobile bridge deal

Sean Duffy
U.S. Secretary of Transportation Sean Duffy said the new Mobile bridge and changes to the Mobile Bayway will ease traffic congestion, boost the flow of freight and enhance safety for drivers.
Bloomberg News

U.S. Transportation Secretary Sean Duffy announced approval of a $2.52 billion Transportation Infrastructure Finance and Innovation Act loan that is a condition for the $3.7 billion in bonds and bond anticipation notes sold for the Mobile Bridge and Bayway project last week. 

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"The Mobile River Bridge and Bayway project will ease traffic congestion, boost the flow of freight, and enhance safety for drivers," Duffy said. 

The Alabama Toll Road, Bridge and Tunnel Authority plans to draw on the TIFIA loan to repay $2.5 billion in BANs that are part of the deal, but only when the project is substantially completed around 2031. 

"This major infrastructure investment in Alabama's Gulf Coast will make monumental improvements for travel and commerce across the region," said Alabama Gov. Kay Ivey. "Once it is completed, this project will finally alleviate our traffic gridlock across Mobile Bay."

"Our strong partnerships at the federal, state and local levels have brought us to this point and I'm thrilled to see this project become reality and benefit Alabamians for generations to come," said Alabama Department of Transportation Director John Cooper.

"For decades, families, commuters and local businesses have waited for this bridge and today we have cleared the final hurdle to make it a reality," said U.S. Senator Katie Britt, R-Alabama. 

"Ever since I got to Washington, I've been hearing  from Alabamians about the urgent need to expand the Mobile bridge," said U.S. Senator Tommy Tuberville, R-Alabama. "This project is a game-changer for the Gulf." 

The project will transform Interstate 10 by rerouting traffic from a tunnel to a new six-lane, cable-stayed bridge over Mobile River; enhancing hurricane evacuation capabilities by making improvements that enhance key interchange, intersection and traffic flow; and expanding freight access by reconstructing one mile of the existing Bayway and restriping the entire 7.5 mile Bayway from two to three lanes in each direction. 

There has been congestion at the George Wallace Tunnel for decades. The tunnel and Bayway are currently used by most I-10 traffic to travel between Mobile and Baldwin County and other areas to the east, under the Mobile River and over the Mobile Bay. The bridge will allow an additional path for I-10 traffic.

Because hazardous materials are prohibited from being transported through the tunnel, hundreds of trucks each day use a detour through downtown Mobile. These trucks will be able to use the new bridge.


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