Virginia DOT (VDOT)and global construction developer Skanska USA have announced one of the largest public-private partnerships in U.S. history — and Skanska's first in the country. The developer will handle the financing, design, construction, operation, and maintenance of the Downtown Tunnel, Midtown Tunnel, and Martin Luther King (MLK) Freeway extension project in Norfolk and Portsmouth. Skanska will also be responsible for service operations, snow removal, and incident response in the project area.

The $1.47 billion project involves construction of a new two-lane submerged tunnel for road transport, maintenance, and safety improvements to the existing Midtown Tunnel and an extension of the MLK Freeway. It is expected to generate more than $1 billion in construction work for local companies, and create more than 500 project-related jobs and more than 1,000 jobs through local suppliers and vendors. Work is expected to be completed by August 2018.