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

  • Migrating to advanced traffic management systems
    March 14, 2012
    Rich pickings of reduced cost and greater value are up for grabs as highway authorities migrate to new traffic management systems – if they choose their paths wisely. Jon Masters reports. Experience gained and expertise developed over the past decade are informing good advice for transport agencies contemplating new or expanded traffic management systems. Technological projects aimed at reducing road congestion may be frequently unique and invariably complex, but a picture is emerging of sensible, prudent a
    Read More
  • South Africa's first multi-lane free-flow tolling top of the line
    February 3, 2012
    Kapsch's Kjell Arnesson talks about the first multi-lane free-flow tolling project in South Africa. In South Africa, installation is ongoing as part of the Gauteng Freeway Improvement Project (GFIP) of the country's first Multi-Lane Free-Flow (MLFF) tolling system.
    Read More
  • Report highlights community impact of new mobility options
    March 29, 2018
    Local authorities and communities must understand the impacts of the new mobility options and regulate to get the transport systems they want, according to a new report. Colin Sowman takes a look. Outside of the big cities plagued with congestion, the existing transportation system(s) often cope adequately, and the ongoing workload (maintenance, safety…) is more than enough to keep local transport authorities busy. Is it, therefore, a good use of public service employees’ time to keep abreast of the raft
    Read More
  • Report highlights community impact of new mobility options
    March 29, 2018
    Local authorities and communities must understand the impacts of the new mobility options and regulate to get the transport systems they want, according to a new report. Colin Sowman takes a look. Outside of the big cities plagued with congestion, the existing transportation system(s) often cope adequately, and the ongoing workload (maintenance, safety…) is more than enough to keep local transport authorities busy. Is it, therefore, a good use of public service employees’ time to keep abreast of the raft
    Read More

Highlighted Content