Toll Road: Speed Pays
- Wednesday, November 14, 2012
- Posted by: lola2014
- Category: Adult Drivers, Resources
Texas State Highway 130: No Longer a Free Ride
Not only is everything bigger in Texas, now it’s also FASTER! The forty-one mile stretch of Texas State Highway 130 Toll Road, which opened October 24th and connects Austin and San Antonio, has the fastest posted speed limit in the country: 85 mph! Unfortunately, the “free ride,” as they say, is now over. Effective November 11th, the SH 130 Concession Company, who is under contract with the Texas Department of Transportation (DOT) to manage to the tollway, began charging 15 cents per mile to drivers with electronic toll tags (around $6.17 for the entire 41 miles). If you don’t have an electronic toll tag, you’re looking at a whopping $8.21 charge to drive from Austin to San Antonio. Large trucks will pay even more, of course.
With 65% ownership, the majority owner of the SH 130 Concession Company is Spanish toll road developer Cintra Concessiones de Infrastructuras de Transporte. Zachry American Infrastructure and Hastings Funds Management own the remaining 35% of the company. The TX DOT received a $25 million concession fee plus revenue sharing for the toll road, which shall be applied towards other regional transportation improvements.
Hey, who ever said speed doesn’t pay?