I-69 Section 5 Company Sold to Canadian Pension Fund Manager

17 May

In today’s global finance news, the highway in Bloomington, Indiana that was being built by a Spanish corporation with Netherlands in its name is now owned by a Canadian pension giant.

Isolux Infrastructure Netherlands B.V., the equity member of I-69 Development Partners, the company hired to design, build, operate, maintain, and finance the construction of I-69 Section 5 (from south of Bloomington to Morgan County), has been sold to Public Sector Pension Investment Board (“PSP Investments”), a large pension investment manager with over $112B  in assets under management. Isolux Infrastructure was formerly part of Grupo Isolux Corsan.

The newly acquired business will be called ROADIS.

Word is that all of the subcontractors have now been paid, and it is obvious around town that construction on I-69 Section 5 has resumed in a big way!

IMG_4732

Subcontractors working on Vernal Pike

The full press release on the acquisition can be found here.

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2 Responses to “I-69 Section 5 Company Sold to Canadian Pension Fund Manager”

  1. Bob Poortinga May 17, 2016 at 12:55 pm #

    Geoff, we folks northwest of SR37/I-69 desperately need Hunter Valley Road to be completed to SR 46. The I-69 contractors have shut down Arlington Road and all crossovers over SR 37. This means I have to all the way to Union Valley Road to get home which is about three miles out of way. Acuff Road will also be completely shut down soon as well. So that means going to Union Valley Road to get to SR 37 south.

    • geoffmckim May 17, 2016 at 1:34 pm #

      The problem is that the TIF that would be used to fund the Hunter Valley/Curry Pike connection doesn’t have any money. In fact, the existing revenue to the TIF only covers about a third of the existing bond payment, let alone generating any surplus for new projects. It does sound like a mess right now! Arlington Rd. should reopen in mid June…end of June at the latest. Will that restore the connectivity you need?

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