By Kate HoughtonPublished Nov 01, 2017 12:00:04The U.S. is set to spend more than $5 billion on infrastructure over the next two decades, a new report from Axios has found.
The report by the investment banking firm predicts that U.K.-based infrastructure firm Infrastructure Investment Partners, which has invested in infrastructure projects in the U.A.E., will spend an estimated $1.2 billion on new infrastructure projects over the period from 2020 to 2031, the report said.
The firm’s estimate is based on the project’s expected value of approximately $2.5 billion and its expected construction costs of $8.5 million per mile of road, $1 million per lane, and $3 million per house.
The new projects will likely be built on public and private land, Axios said.
The company did not disclose the exact locations of the new projects, citing a nondisclosure agreement.
Axios was not immediately available for comment.
The project was developed by Infrastructure Investment Partnership, a British company that also owns the construction firm Littles Construction, Axio reported.
Infrastructure Investment partners said the new infrastructure will be used to build roads, bridges, tunnels and other public infrastructure.
It also will be able to build and finance private projects that use the money for private purposes.
Axios did not name the U