The Indiana Finance Authority (IFA) board has selected ‘I-69 Development Partners’, a team led by Isolux Infrastructure Netherlands, to design, build, finance, operate and maintain a section of the Interstate 69 (I-69) corridor, the Indiana Department of Transportation (INDOT) said in a statement on Wednesday.
Construction of I-69 Section 5, a 21-mile stretch on the interstate connecting Bloomington in southern Indiana to Martinsville further north, will begin later this year and is scheduled to open by the end of 2016, “several years ahead of schedule,” according to INDOT’s statement. The P3 will be delivered using an availability payment structure.
“I am firmly committed to finishing what we started with I-69 from Evansville to Indianapolis so products and people will be able to move even more freely, and towns will be open to commerce and opportunity for more Hoosiers,” said Indiana Governor Mike Pence in the statement.
‘Section 5’ is part of the 142-mile I-69 corridor, which was divided into six independent sections. Once complete, I-69 will connect Evansville with Indianapolis, the state capital, “a key component to the future economic vitality of southwestern Indiana,” INDOT said.
The first three sections – totaling 67 miles – have been in operation since November 2012; while construction on Section 4, a 27-mile stretch between Evansville and Crane, is underway. That section is expected to open in phases beginning in late 2014 through early 2015.
INDOT and IFA, which are responsible for the procurement of the project, issued a Request for Proposals (RFP) in October last year.
Isolux Infrastructure, owned by Spanish construction and concessions group Isolux Corsán, and PSP, a Canadian fund, has partnered with local contractors E&B Paving, Force Construction and Gradex Inc. on this project, the state’s third toll road P3.
The previous P3 project Indiana procured was the Ohio River Bridges / East End Crossing, a long-term concession for the development, design, construction, financing, operation and maintenance of a cable-stayed bridge and related road across the Ohio River.
INDOT awarded the concession in November 2012 to a consortium comprising Bilfinger Berger Project Investments (BBPI), Vinci Concessions and Walsh Investors.
In 2006, the US Midwest state leased its Indiana East-West Toll Road, or Indiana Toll Road, in a 75-year P3 for $3.8 billion.
It is also in the process of selecting a preferred bidder for its 12-mile portion of the Illiana Corridor, a 47-mile, bi-state toll road project linking Northwest Indiana with Chicago’s southern suburbs in Illinois. Six consortia responded to Indiana’s Request for Qualifications (RFQ) in mid-January but IFA has not specified when the shortlisted teams will be announced.