McLEAN, Va. (AP) - Officials say the final phase of a project to extend Metrorail to Dulles International Airport and Loudoun County will cost $2.7 billion.

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The new estimate released Tuesday is slightly lower than preliminary estimates agreed to by officials.

When state, federal and local leaders agreed to a deal on how to pay for the project last year the estimate was $2.8 billion.

The cost of the project could rise to over $3 billion, however, if Fairfax and Loudoun counties don't agree to help pay for five parking garages and a Metro station that are part of the project.

Phase one of the new silver line is currently under construction and projected to be finished in 2013.

Phase two, the final phase, is expected to begin construction in January.