Winning consortium to back Gilcrease Expressway project with private activity bonds of US$ 125 million

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The winning consortium of Gilcrease Expressway West project will back the project with private activity bonds of US$ 125 million. The consortium consists of AECOM, Duit Construction Co. consortium, and Wells Fargo bank. The consortium is expecting to complete the financial close for the project on October 22, 2019.

The Gilcrease Expressway project involves the construction and financing of a fully functional four-lane divided, tolled highway, which will link two existing roads - Interstate 44 and US 412, on the west side of Tulsa, the second-largest city in Oklahoma, in the south-central region of the USA. The successful bidder will also deliver 22 bridges, five interchanges, and tolling gantries. 

Oklahoma Turnpike Authority will retain ownership of the expressway throughout the project and will be responsible for toll rate setting, operations, and maintenance following substantial completion, and toll collection/back-office operations for the project.

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