ORLANDO, Fla. – The I-4 Ultimate is on target to be completed in 2021, the original date of completion, and the massive project remains on budget, state transportation officials said Thursday.
The announcement from the Florida Department of Transportation comes amid a claim from I-4 Mobility Partners, the concessionaire of the project, seeking more money and time to complete the project.
FDOT said the claim was filed due to alleged challenges with foundation construction.
"The department is in the process of reviewing this claim," FDOT spokesman Steve Olson said in a statement. "While the claim is being reviewed, construction activities are continuing and the contractor is being held to the terms of the contract with the original completion dates set forth in the agreement."
Olson said FDOT is working with its construction partners, and I-4 Mobility is implementing mitigation strategies to reduce impacts.
"No time extensions or financial considerations have been granted to the contractor from FDOT," Olson said.
In a report issued by Moody's, it was suggested that the project could be delayed by as many as eight months.
"Regarding the Moody’s rating downgrade, the purpose of their financial report is to analyze the project from a financial point of view, due to the certain amount of financial risk the private sector and investors have agreed to take on as a part of this public-private partnership," Olson said. "However, the report is not the driver or final say in the department’s decision to approve or reject the concessionaire’s request for additional time, which are considered by Moody’s to be additional risk factors."
Construction of the 21-mile stretch of I-4 through Central Florida is scheduled to be completed in 2021 at a cost of $2.3 billion.