LBJ Infrastructure Group consortium has secured funding for the last phase of the $2.78bn Lyndon B Johnson (LBJ) highway project in Dallas, Texas, US.

The consortium is expected to construct, maintain, manage and finance the 27.2km highway, which will manage lane systems for a 52-year concession period.

The highway is scheduled to enter into operation from 2013 to 2015.

LBJ has provided $615m for the project, the Texas Department of Transportation will invest $496m and the federal government granted $850m.

Consortium partners comprising of Cintra, Meridiam and the Dallas Police and Fire Pension System will also contribute $665m towards the project.

The project will use an electronic free-flowing tolling system and traffic on the road will be monitored in real time.