Construction is set to begin in early 2013 on segments F-1, F-2 and G after the Texas Transportation Commission on Thursday approved Zachary-Odebrecht Parkway Builders as the developer for the three sections.

Zachary-Odebrecht will develop approximately 37 miles of new toll road which stretches from Hwy. 290 in Harris County east to Hwy. 59. The cost of the project's development is about $1.04 billion. Including 15 years operation and maintenance of the the three segments, the total costs are more than $1.1 billion.

"This is a major advancement, increasing mobility for motorists in the Greater Houston metropolitan area," said Jeff Moseley, TTC director. "The innovative financial approach used here will make this project a reality much sooner, and that's great news for Houston motorists."

Senate Bill 1420, adopted by the 82^nd Texas Legislature in 2011, allowed the Texas Department of Transportation the ability to enter into a public-private partnership for the development of Grand Parkway, which was first discussed as a need to improve Houston mobility in the early 1960s.

According to TxDOT, public-private partnerships "allow the department to contract with the private sector for the design and construction and possibly, operation and maintenance of a project." The agreement also allows the state to retain ownership of the project.

Zachary-Odebrecht beat out three other developers in the bidding process. Along with Zachary-Odebrecht, the four finalists short-listed by TxDOT were Fluor Balfour Beatty Williams Brothers, Kiewit-Granite Parkway Constructors and Spring Creek Constructors.

TxDOT utilized a 100-point scoring system based on price, project development plan and schedule to determine the winning bid. Zachary-Odebrecht received the highest score of 92.2. Flour/Balfour achieved the next highest score at 72.11, while Spring Creek Constructors scored 70.07 and Kiewit-Granite Parkway Constructors scored 63.04.

The next step in the process is for the project to receive environmental permitting, which is expected in January 2013.

Grand Parkway is a planned 184-mile loop when, once completed, will be the third outer loop in the Greater Houston area. Two segments of Grand Parkway are open: Segment D in Katy and Segment I-2 in Baytown.