Maryland officials have shared the cost of rebuilding the Baltimore Bridge. They said that the Francis Scott Key Bridge reconstruction could cost almost $2 billion. 

Baltimore Bridge Rebuild Could Cost Almost $2 Billion

According to Fox Business, Maryland officials filed insurance claims related to the Baltimore Bridge collapse on Mar. 26. They said the reconstruction could cost between $1.7 billion and $1.9 billion.

However, Maryland Department of Transportation spokesperson David Broughton clarified that the cost estimation is still preliminary. This means that it could either become more expensive or cheaper.

He also said that detailed engineering specifics have not been confirmed yet. Regarding the Baltimore Bridge rebuild schedule, The Associated Press reported that Maryland plans to complete the reconstruction by the fall of 2028.

Read Also: Baltimore Bridge Collapse Is 'National Economic Catastrophe' as Key Supply Route Remains Blocked, Says Maryland Gov. Moore

Where Would Baltimore Bridge Rebuild Budget Come From?

Maryland DoT officials said that their rebuild estimate is in line with other projects with the same scale and complexity as the Baltimore Bridge collapse.

They stated that the budget would come from Federal funding, insurance proceeds, and other reimbursements. These will bring various resources needed for the Baltimore Bridge rebuild and recovery efforts.

However, Maryland authorities want to minimize net cost to toll customers and taxpayers. The state is still pursuing other recovery options for the Francis Scott Key Bridge.

Related Article: Baltimore Bridge Collapse Update: Insurer Chubb Preparing $350M Payout, But Is This Enough?