AUSTIN (KXAN) — The section of State Highway 130 toll from southeast Travis County to Seguin is now under new ownership after the original company filed for bankruptcy last year.
SH 130 Concession is now being managed by Strategic Value Partners, which has in turn hired Louis Berger Services to operate and maintain the roadway. The company also has $260 million in new financing.
“SH 130 Concession Company has emerged from the Chapter 11 process as a much stronger company,” Andy Bailey, CEO of SH 130 Concession said. “Our capital structure has been transformed and the company’s new owners are committed to investing in the improvements, technology and people needed to enhance the driving experience for our existing customers and attract new drivers to the roadway.”
SH 130 Concession Company operates and maintains Segments 5 & 6 of SH 130. The company says they saw an 11 percent increase in toll transactions from 2015 to 2016. Truck traffic increased by 15 percent in the period. In spring 2016, 18-wheelers started receiving a discount on the TxDOT-operated section of SH 130 from Mustang Ridge to Georgetown.
When SH 130 opened in October 2012, the toll boasted the fastest speed limit in the country at 85 mph. SH 130 Concession Company was originally formed by Cintra and Zachary American Infrastructure. The toll company used private funding in addition to a $430 million investment from the federal government on the project. The project cost $1.32 billion overall, according to federal documents.