I-69 Section 5 to go ahead

The Indiana Finance Authority (IFA) and I-69 Development Partners reached financial close on section 5 of I-69 Section 5 from Bloomington to Martinsville. The 142-mile I-69 corridor is divided into six sections. The first three sections opened for business in November 2012 and construction is underway on all 27 miles of I-69 Section 4 between Crane and Bloomington. I-69 Section 5 involves repairing and upgrading 21 miles of the existing, four-lane State Road 37 to interstate standards. I-69 Developmen
July 28, 2014 Read time: 2 mins

The Indiana Finance Authority (IFA) and I-69 Development Partners reached financial close on section 5 of I-69 Section 5 from Bloomington to Martinsville.

The 142-mile I-69 corridor is divided into six sections. The first three sections opened for business in November 2012 and construction is underway on all 27 miles of I-69 Section 4 between Crane and Bloomington.

I-69 Section 5 involves repairing and upgrading 21 miles of the existing, four-lane State Road 37 to interstate standards. I-69 Development Partners expects to begin construction in the Bloomington area this fall and open the 21 new miles of interstate by the end of 2016.

Designated as one of six Corridors of the Future, I-69 will ultimately extend from Mexico to Canada, making it the primary north-south artery for the movement of goods and services in the US.

Earlier this month, the IFA sold nearly US$244 million in private-activity bonds on behalf of the private developer, which will then repay the bond holders directly. I-69 Development Partners is investing more than US$40 million of its own funds and is responsible for all construction costs and the risks associated longer term with the operations and maintenance of I-69 Section 5.

Related Content

  • ASECAP examines tolling’s trials, tribulations and triumphs
    September 4, 2018
    If you want to get up to speed on the main issues facing the transport sector and tolling companies, ASECAP Study Days event in Ljubljana was a good place to start. Colin Sowman reports (Photographs: Louis David). Increasing populations, ever-higher technical and safety requirements, and electric and hybrid vehicles will provide both challenges and opportunities for tolling companies. The annual Study Days event organised by ASECAP (the European association for tolling companies) examined all of these aspec
    Read More
  • Vinci consortium to complete and operate Regina Bypass
    August 6, 2015
    Regina Bypass Partners, a subsidiary of Vinci Concessions, in partnership with Parsons Enterprises, Connor Clark & Lunn GVest fund and Gracorp Capital, has signed a public-private partnership contract with the Saskatchewan Ministry of Highways and Infrastructure with a term of 30 years for the completion and operation of the highway bypass of Regina, the capital city of the province of Saskatchewan in Canada. The project, which represents a total investment of around US$1.4 billion, includes the design,
    Read More
  • ITS America maps out implications and opportunities for ITS industry
    November 28, 2012
    A critical milestone was reached in July 2012, when the US Congress passed, and President Obama signed, legislation reauthorising the nation's surface transportation programs, breaking a nearly three-year log-jam which had blocked critical transportation reforms and delayed much-needed infrastructure projects. In a town where compromise is sometimes considered an endangered species, Republicans and Democrats came together during a months-long series of negotiations and hashed out a bipartisan agreement that
    Read More
  • San Francisco plans express lane network across Bay Area
    February 25, 2015
    Colin Sowman looks at plans to convert 240km (150 miles) of HOV/car pool lanes. While some authorities have debated the conversion of high occupancy vehicle lanes (HOV) into express or managed lanes allowing toll paying single-occupant vehicles to avoid congestion, San Francisco’s Bay Area Metropolitan Transportation Commission (MTC) has acted. It is converting 240km (150 miles) of HOV/car pool lanes to express lanes and last fall the MTC’s Bay Area Infrastructure Financing Authority selected TransCore to d
    Read More

Highlighted Content