Ladies and gentlemen, start your engines.
The Texas Department of Transportation has approved an 85 mph speed limit for an upcoming 40-mile stretch of Texas 130 from Austin to Seguin. Currently, no road in the country has a posted speed limit faster than 80 mph. An 85 mph designation would give the new toll road the fastest speed limit in the Western Hemisphere, according to some reports.
In 2011, the Legislature gave TxDOT the authority to grant an 85 mph speed limit to roads designed to accommodate that speed. Last week, following engineering and traffic studies conducted by TxDOT, the Transportation Commission authorized speed limits of up to 85 mph on the road.
The new stretch of Texas 130 (known officially as Segments 5 and 6) is being built by a private consortium led by Spanish-based toll road firm Cintra. The firm has spent $1.3 billion to design and build the road and collect the tolls on the road for 50 years, though TxDOT retains ownership of the road. Under TxDOT’s contract with the SH 130 Concession Company, the firm had to pay TxDOT an extra $67 million if the new road received an 80 mph speed limit. If the road received the coveted 85 mph speed limit, TxDOT’s bonus jumped to $100 million.
Wait, so by approving this higher speed limit TxDOT also approved a $100 million bonus for itself? Sweet. The road is officially scheduled to open November 11, but may actually do so sooner than that. See here for more.