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

  • Orange County to manage traffic with trial interoperable CCTV
    September 12, 2014
    Interoperable CCTV can provide early warning of problems and help improve traffic management and incident response as Morteza Fahrtash and Carlos Ortiz explain. California’s transportation system is one of the state’s defining features and Caltrans (California Department of Transportation) strives to improving mobility across the state through the design, construction, operation and maintenance of the network of highway, freeways, toll roads and expressways.
    Read More
  • Mexico and the US slow to adopt ETC interoperability
    April 12, 2013
    Splinteroperability is a word devised by Travis P. Dunn and Victor J. Michelet C. to encapsulate the lack of progress towards ETC harmonisation in the US and Mexico. Five thousand miles of tolled roads and bridges. Widespread implementation of electronic toll collection (ETC) systems. One dominant interoperable ETC service provider covering just over half the nation’s toll facilities. Numerous other ETC service providers offering alternative visions of interoperability. Years of customer requests for better
    Read More
  • Transition to all electronic tolling leads to cost savings
    February 2, 2012
    How a temporary congestion-relief solution resulted in the North Texas Tollway Authority's transition to all-electronic toll collection and potential savings of up to $472 million by 2045. By Carla Kienast, ETC Corporation
    Read More
  • Carbon finance delivers critical support to mass transit schemes
    February 2, 2012
    David Crawford investigates carbon finance in transport. World Bank carbon finance grants are delivering critical support to major mass transit deployments in emerging and developing economies. Only recently operative in the transport sector, the Clean Development Mechanism (CDM, see panel) is designed to generate additional income streams and improve internal rates of return on projects funded from public- and private-sector sources.
    Read More

Highlighted Content