You have probably already heard in the media about the selection of a winning proposal to design, build, operate, maintain, and finance Section 5 of I-69. However, you probably haven’t seen all of the winning and losing teams yet!
This past Wednesday, the Indiana Finance Authority preliminarily announced the winning bid to design, build, operate, maintain, and finance the construction of Section 5 of I-69, 21 miles of highway from Bloomington to Martinsville. I-69 Development Partners, led by prime contractor Isolux Infrastructure Netherlands B.V. from Spain, was selected as the preferred proposal.
The winning proposal would design and build the highway for $325M. The state will pay $21.8M per year over a period of 35 years (minus any penalties for non-performance), which will cover not only the design and construction, but also all maintenance and operation, including snow and ice removal, repair, resurfacing etc. for the entire 35-year term of the contract. In the form of public-private partnership used for this contract, the contractor provides the financing for the project. However, unlike most arrangements in which the contractor provides the financing for an infrastructure project, this project will not be a toll-road.
The full press release from the Indiana Finance Authority can be found here:
More interesting than the press-release, however, is the full list of proposing teams, including all of their subcontractors. In all, there were 4 teams proposing, all with very generic names: Connect Indiana Development Partners, Plenary Roads Indiana, WM 1-69 Partners, LLC, and I-69 Development Partners. Each team consists of an “equity member” (essentially a prime contractor) and over a dozen partners and subcontractors, including construction, design, environmental, operations and maintenance, etc.
The actual contract has not yet been released to the public; however, according to the Indiana Finance Authority, “portions of the preferred proposal” will be posted on its website next week. You can be sure that MoCoGov will be watching!