Maryland estimates bridge replacement cost at $1.7 billion - $1.9 billion

Wreckage lies across the deck of the Dali cargo vessel, which crashed into the Francis Scott Key Bridge causing it to collapse, in Baltimore, Maryland, U.S., March 27, 2024. Mike Segar/File Photo

WASHINGTON -Maryland said on Thursday it estimates it will cost $1.7 billion to $1.9 billion to rebuild a collapsed Baltimore bridge and anticipates it will be completed by fall 2028.

The Maryland Department of Transportation said the state's "planning level cost estimate is between $1.7 billion and $1.9 billion" which "is in line with similar projects of this scale and complexity."

The Dali cargo ship crashed into the Francis Scott Key Bridge on March 26, killing six people. Lawmakers in Congress are working on legislation that would waive the current requirement that the state pay 10% of the rebuilding costs and ensure there is enough money in a federal rebuilding fund.

Maryland said it will request proposals to rebuild the bridge by the end of May and plans an industry forum on Tuesday.

The U.S. Department of Transportation provided an initial $60 million in emergency funds on Thursday to clear debris and start the process of rebuilding the bridge.

"We're going to get Baltimore whatever it needs to rebuild, said Senator Brian Schatz who chairs the subcommittee overseeing transportation funding.

Senator Chris Van Hollen of Maryland said, "Any funds recovered from lawsuits for wrongdoing will be recouped by federal taxpayers."

Source: Reuters