18 firms respond to I-55 managed lanes P3
The Illinois Department of Transportation (IDOT) has announced that 18 companies had expressed interest to develop the Interstate 55 expansion P3 project.
According to sources, AECOM, K-Five Construction, Macquarie Capital and Walsh Construction are among the companies interested.
The project would add a tolled express lane to the expressway’s existing median between Interstate 355 and Interstate 90/94, reducing congestion and making travel throughout the region more efficient. The 25-mile stretch accommodates 170,000 vehicles a day, with about 15 percent trucks, making it one of the most important commuting and freight corridors in the state.
IDOT must receive the approval from the General Assembly to move forward with the project. The total investment estimated for the project stands at US$425 million.
As we reported in August, the Request for Information (RFI) stated thta companies would help IDOT in creating criteria and an overall plan to design, build, finance, operate and maintain (DBFOM) the managed lanes on I-55 if the project is pursued as a P3.
IDOT stated:
"The enthusiastic responses further demonstrates the value in the project as well as a strong desire from project developers to have a hand in delivering the best possible outcome for the people of Illinois."
Country news
-
-
September 22, 2016
Vinci acquires strategic stake in Tollplus
Vinci, via its subsidiary Vinci Highways, has taken a strategic stake in the capital of TollPlus. Read more -
September 21, 2016
GIP III acquires 20% stake in Gas Natural
Global Infrastructure Partners (GIP) recently announced that its fund, Global Infrastructure Partners III (GIP III), and a group of its Limited Partner Co-Investors have agreed to acquire a 20% interest in Gas Natural SDG, S.A. from Criteria Caixa, S.A. and Repsol, S.A. Read more -
September 21, 2016
Four teams shortlisted for Chicago Union station redevelopment
Amtrak, US’s intercity passenger rail service and its high-speed rail operator, has shortlisted four teams for the redevelopment of the Chicago Union Station P3 project. Read more -
September 21, 2016
Stafford Capital Partners reaches second close of Stafford Infrastructure Secondaries Fund II
Stafford Capital Partners, a leading private markets investment group with a global presence and US$4.4 billion under management and advice, has announced the second close of its new infrastructure fund, Stafford Infrastructure Secondaries Fund II (SISF II). Read more -
September 21, 2016
University of Kentucky tenders mixed-use parking P3
The University of Kentucky (US) has launched a tender process for a mixed-use parking development. Read more
