(Bloomberg) -- Macquarie Group Ltd. is exploring the sale of a portion of its stake in Maryland Express Lanes, a project designed to reduce congestion across key traffic arteries in the U.S. state, according to people with knowledge of the matter.

The Australian bank has begun soliciting interest from prospective buyers for part of its 40% stake, in a transaction set to value the project’s equity at about $1.25 billion, one of the people said. The firm owns the stake through Macquarie Capital, its principal investment and advisory arm.

A Macquarie spokesman declined to comment.

The project, owned by a consortium that also includes Transurban Group, has outlined plans to add two high-occupancy toll lanes from the George Washington Memorial Parkway in Virginia, over the American Legion Bridge, and across I-270 to I-70 in Maryland. The group estimates the lanes will reduce delays by 34% during peak traffic, and has touted the creation of 7,500 jobs. 

Toll roads have long appealed to infrastructure investors due to the perceived stability of returns. Last year, Caisse de depot et placement du Quebec, or CDPQ, acquired a 15% stake in the Indiana Toll Road from IFM Global Infrastructure Fund. 

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