The $2 Billion Plan to Replace Baltimore Bridge

Officials in Maryland have announced the estimated times and costs for the reconstruction of the Baltimore bridge which collapsed in March.

Maryland Transport Secretary Paul Wiedefeld said on Thursday the preliminary costs for the project were estimated to be between $1.7-$1.9 billion, with a projected completion date of fall 2028.

Local news outlets reported that the Maryland Transportation Authority intends to enlist help from the private sector to help bring plans for the rebuild to fruition.

A spokesperson for the Maryland Transport Authority told Newsweek: "The cost estimate to rebuild the Francis Scott Key Bridge is in line with similar projects of this scale and complexity."

A virtual forum with the construction industry will be held May 7 ahead of making a formal request for proposals, which the authority expects will "bring in a private sector partner and a wealth of knowledge and experience from day one."

The latest initiative is part of an ongoing effort by Democrats to progress the reconstruction effort.

At a press conference in March, President Biden vowed to move "heaven and earth to rebuild this bridge as rapidly, as humanly possible."

The President also said that he thought federal money should be made available for the project.

"It's my intention, that the federal government will pay for the entire cost of reconstructing that bridge."

$60 million has already been made available by the Biden administration.

Transport officials in Maryland are also anticipating an insurance payment to the tune of $350 million to be made in the near future, saying on Thursday that they expect "the full property policy to be paid very shortly."

Maryland Governor Wes Moore met with Democratic and Republican officials this week as members from both parties saw the state's response to the accident up close.

Moore called the rebuilding initiative a "national priority" and personally lobbied Congress in April to act.

The bridge collapsed at 1:30 am on March 26 after cargo ship Dali, which was owned by Grace Ocean Private Limited, collided with one of the bridge's pillars.

Supply chain expert Patrick Penfield of Syracuse University told Newsweek in March that the collapse of the bridge would result in almost $9 million in losses a day, as shipping into the port of Baltimore would be disrupted as a result of the collision.

The Francis Scott Key Bridge, which spans the Patapsco River, first opened in 1977 and was named after the man who wrote the lyrics to The Star-Spangled Banner.

Newsweek has contacted Gov. Moore for comment via email.

Update, 5/9/24, 10:49 a.m. ET: This story was updated to include comment from the Maryland Transportation Authority.

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