Australian fund manager to acquire Indiana toll road concession

Australian fund manager IFM Investors, on behalf of IFM Global Infrastructure Fund, has paid US$5.7 billion for the bankrupt Indiana Toll Road Concession, a 253-kilometre highway that runs from the border of Indiana and Ohio towards Chicago, giving it exclusive rights to operate and maintain the road for the next 66 years. The road, previously jointly owned by Macquarie and Spanish infrastructure group Ferrovial, went into Chapter 11 bankruptcy in September due to poor traffic volumes and was put up for sal
March 13, 2015 Read time: 2 mins
RSSAustralian fund manager IFM Investors, on behalf of IFM Global Infrastructure Fund, has paid US$5.7 billion for the bankrupt Indiana Toll Road Concession, a 253-kilometre highway that runs from the border of Indiana and Ohio towards Chicago, giving it exclusive rights to operate and maintain the road for the next 66 years.

The road, previously jointly owned by 802 Macquarie and Spanish infrastructure group 4419 Ferrovial, went into Chapter 11 bankruptcy in September due to poor traffic volumes and was put up for sale.

The road spans northern Indiana, from its border with Ohio to the Illinois state line near Chicago, feeding directly into two toll roads at the state lines – the Chicago Skyway in the west and the Ohio Turnpike in the east.

IFM Investors regards ITRCC as an attractive investment for its infrastructure portfolio. Julio Garcia, head of Infrastructure – North America at IFM Investors said: “We believe this is a unique opportunity to invest in a high quality United States transportation infrastructure asset. IFM Investors views the Indiana Toll Road as an essential operating asset for its strategic geographical position, long concession duration and inflation and GDP-linked tolling regime. ITR is strategically important to the North American transportation network. We are committed to maintaining the asset to a high standard that provides maximum availability and usability for customers.”
Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • Good news for the ITS industry from new $105 billion US transportation reauthorisation bill
    July 11, 2012
    ITS America has applauded approval by the US House of Representatives and the US Senate of the conference report to HR 4348, (here’s the link Joseph: http://www.rules.house.gov/Media/file/PDF_112_2/LegislativeText/CRPT-112hrpt-HR4348ih.pdf ) a legislative package which includes the surface transportation reauthoriSation bill. The bill passed the House by a wide margin of 373 – 52, was subsequently approved by the Senate by a 74-19 vote, and the legislation has been signed by the President. The legislation w
    Read More
  • Brazil draws up transport concession timetable
    March 19, 2015
    Brazil's federal government has drawn up a tender launch schedule for highway, railway, airport, waterway, and port dredging concessions. Feasibility studies for the country's upcoming concessions have already been completed and tenders are due to be launched in the fourth quarter, local paper Valor Econômico reported. To date, a total of 493 kilometres of sections of federal highway, from Paraná state's Lapa city to Santa Catarina state's Chapecó city, are waiting to be put out to tender. Additional highwa
    Read More
  • Cost of northern Colombia rail line US$1 billion says study
    March 18, 2015
    It would cost nearly US$1 billion to build a 260 kilometre rail line connecting cities in northern Colombia, according to a study by the Universidad del Norte in Barranquilla. The proposed rail corridor would link Santa Marta, Barranquilla and Cartagena, which are home to the three biggest ports on the country's Caribbean coast. The train would function as a mixed service line, transporting passengers as well as cargo. "Some details need to be worked out regarding funding sources, which depends more on the
    Read More
  • Suppliers reshape to provide tolling and traffic management expertise
    August 2, 2013
    Jason Barnes examines the trend towards single source supply of complete tolling and traffic management solutions with some senior tolling industry figures. Only a few years back, the major tolling system suppliers were aggressively positioning themselves as one-stop shops for tolling solutions and operations. No sooner has that little flurry of innovation settled than another trend has emerged – tolling companies wanting to become major ITS suppliers as well. Various tolling company seniors have in recent
    Read More

Highlighted Content