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The projected cost of rebuilding the Frances Scott Key in Baltimore, Maryland is estimated to be between $1.7-$1.9 billion according to State Transportation spokesperson David Broughton. Authorities are promising the build to be finished by 2028.
The Bridge, collapsed after it was hit by the container ship Dali over a month ago, is a major traffic artery around Baltimore City particularly for trucks transporting hazardous materials, which cannot go through the two tunnels on Route 95. The channel beneath the bridge services one of the busiest ports in the United States.
Six workers were killed in the collapse of the bridge. One has still not been recovered from the Patapsco River. The fifth victim was recovered Wednesday and identified as Miguel Angel Luna Gonzalez, 49, of Glen Burnie, Maryland. All the victims were Latino immigrants who were working on the roadway of the bridge at the time of the collision.
The bridge was covered by an insurance policy for $350 million purchased by the State of Maryland. The State will get that payout.
The Maryland Transportation Authority said Thursday that the state's treasurer filed a claim on the day of the bridge's collapse "against our $350 million property policy and put on notice our $150 million liability policy first tier carrier on behalf of MDTA."
"We expect the full property policy to be paid very shortly," the agency said in a news release.
The carrier Dali has not been moved yet.
Thursday the state did a controlled demolition of what was left of the bridge.
Shipping channels have been opened for limited use.
With the State of Maryland currently suffering a budget deficit, it is expected that the State will ask the Federal Government to foot most of the cost of the rebuild.
The City of Baltimore has already announced plans to sue the company that owns the Dali.
