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Project Profile: President George Bush Turnpike Western Extension (SH 161)

President George Bush Turnpike Western Extension (State Highway 161)

photo credit: North Texas Tollway Authority (NTTA)


Dallas, Texas

Project Sponsor / Borrower

North Texas Tollway Authority (NTTA)

Program Areas

Project FinanceTolling and PricingTIFIA


Toll Highway


State Highway (SH) 161, the President George Bush Turnpike Western Extension (PGBT WE), provides a new, approximately 11.5-mile link between SH 183, I-30, and I-20 as part of a western loop around Dallas through the cities of Irving and Grand Prairie south of Dallas-Fort Worth International Airport. SH 161 serves as a major link within the Dallas-Fort Worth regional transportation network, reducing congestion along adjacent corridors, including the parallel State Highway 360.

In April 2008, the Texas Department of Transportation (TxDOT) agreed to a concession with NTTA in perpetuity (with revenue and capital improvement cost sharing after 52 years) to own, operate, and complete the project's construction. The negotiated value of the agreement was $1.068 billion, including a $458 million upfront payment (plus interest) to TxDOT for prior costs incurred on Phase 4 of the project and the obligation for NTTA to build Phase 4 of the project and the toll gantries for Phases 2 and 3 (see below).

The new toll road is being constructed in four phases:

  • Phase 1: An interchange with SH 183 and service roads from North Carrier Parkway to I-20, constructed by TxDOT (open in August 2009)
  • Phase 2: Two toll lanes in each direction from SH 183 to Egyptian Way, constructed by TxDOT (open in August 2009)
  • Phase 3: Services roads and a third toll lane in each direction from Conflans Road to North Carrier Parkway, constructed by TxDOT (open in April 2010)
  • Phase 4: Two toll lanes in each direction from North Carrier Parkway to I-20 with interchanges at I-30 and I-20 (open in October 2012; I-30 interchange (fully open in December 2012)

Together with the original PGBT and its Eastern Extension, the roadway provides a 52-mile partial circumferential route around Dallas from I-20 in Grand Prairie to I-30 in Garland.

The widening of the roadway to three lanes in each direction between I-30 and I-20 is in the planning phase.


Construction cost - $1.1 billion

  • TxDOT's cost (Phases 1, 2, 3 and contribution to railroad bridge south of I-30) - approximately $541.5 million + $12 million
  • NTTA's cost (Phases 2, 3, 4 plus railroad bridge) - $546.6 million (includes $47.5 million of contingency unspent as of February 2016)

NTTA Concession - $1.2 billion

  • $469.1 million upfront payment (reimbursement for TxDOT construction costs and funds to be spent on eligible priority transportation project in the North Texas region, including $11.1 million in interest)
  • $546.6 million construction obligation
  • $167.7 million financing costs and reserves
Funding Sources

TxDOT's cost - State Highway Fund (all revenues dedicated or appropriated to the purposes of TxDOT)

NTTA Concession financing

  • Special Projects System Revenue Bonds - $674.3 million
  • TIFIA Direct Loan - $418.4 million (to refund taxable bond anticipation notes [BANs])
  • TIGER I TIFIA Payment - $9.1 million (for subsidy/administrative costs)
  • Equity contribution - $72.5 million
Project Delivery / Contract Method

Phases 1, 2, and 3 - Design-bid-build

Phase 4 - Design-build

Project Partner

Phase 4 design-builder: Prairie Link Constructors

  • Fluor Enterprises, Inc.
  • Balfour Beatty Infrastructure, Inc.
Project Advisors / Consultants

Special Projects System Revenue Bonds/BANs underwriting syndicate - Citi, Barclays Capital, Estrada Hinojosa & Co., Loop Capital Markets, Morgan Keegan & Co., Morgan Stanley, and Ramirez & Co.

NTTA Financial Advisor

  • RBC Capital Markets


  • TIFIA Legal Advisor - Baker Botts, LLP
  • TIFIA Financial Advisor - Infrastructure Management Group

Bondholders, USDOT TIFIA

Duration / Status

Phases 1 and 2 open in August 2009
Phase 3 open in April 2010
Phase 4 open in October 2012 (I-30 interchange fully open in December 2012)

TIFIA Credit Assistance

Direct Loan - $418.4 million

The TIFIA loan will be repaid with project revenues, which include all income, tolls, revenues, rates, fees, charges, rentals, or other receipts derived by or related to the operation of the Project. The TIFIA loan is further secured by the provisions of the Toll Equity Loan Agreement between NTTA and TxDOT.

Financial Status / Financial Performance

TIFIA credit agreement was executed on April 15, 2011

Financial close for the Special Projects System Revenue Bonds and BANs occurred on April 21, 2011.

  • The PGBT WE will become part of the NTTA's Special Projects System, separate from the NTTA system as a whole, where the toll revenue bonds issued under the Special Project System Trust Agreement, including the TIFIA loan, will be secured additionally by the Toll Equity Loan Agreement (TELA). Under the TELA, TxDOT has agreed to lend to the project from the State Highway Fund 006 (motor fuel tax revenues) a negotiated amount each year should revenues be insufficient to cover operations and maintenance, including debt service. The TELA may also include, subject to financial review and acceptance, the Southwest Parkway/Chisholm Trail Parkway (SWP/CT) project currently in design and environmental review, to be built southwest of Fort Worth. If approved, only the PGBT WE and SWP/CT projects will be part of the Special Projects System additionally secured by the TELA.
Related Links / Articles


Project Progress Report - February 2016

Texas Transportation Commission Minute Order [PDF]


Mark Bouma, P.E.
Technical Oversight Leader, NTTA
Tel: (972) 628-3116

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