After three years of start-and-stop work by a P3 developer upgrading a segment of I-69 near Bloomington, the Indiana Finance Authority (IFA) finally seems ready to terminate the 35-year DBFOM agreement it signed in 2014 and restart work under a construction management contract, sources say.
Two of the losing bidders for the P3, Walsh Group and Lane Construction, competed for the CM contract, which IFA will award once termination details are settled. Completion of the project is now set for August 2018, almost two years late.
IFA awarded a $370-million availability pay DBFOM contract to Isolux Infrastructure in 2014. Its bid included a very low design-build price, which, at $325 million, was $75 million less than Walsh‘s bid.
Work is about half completed on the 22-mile Segment 5 of I-69. IFA recently said it would take nearly $237 million to finish the project, and that $72 million was available. That means $164 million is needed to “complete construction and resolve claims,” it said.
Download Sample Issue
Latest Industry News
- Federal Partnering and Performance Incentives to Spur Efficiency in the Water Sector
- John Porcari: Getting The Facts Straight on Environmental Permitting Delays
- Confusion Reigns Over Trump Infrastructure Plan
- Trump Budget By The Numbers
- The Narrow Path To An Infrastructure Bill
- Key Man Cohn May Depart
- The High Cost of Waiting For The Big Pivot
- Rhode Island Bridges—Low Hanging Fruit
- I-69: The Perils of P3s
- Earmarking Pet Projects
- Infrastructure Crisis Unmasked: Congenital Dithering
- Asset Recycling Is The Crown Jewel?
- Build A Framework For Productive Asset Recycling, by Peter Luchetti
- Why and How To Toll The Interstates by Robert W. Poole Jr., Reason Foundation
- Letter to the Editor: Road Usage Charges
- Infrastructure Disrupters: Reasons To Focus On AV Rollout Now
- Massey Bridge P3 In Trouble
- Ontario High Speed Rail Studies Begin
- Montreal LRT Waits For Federal Government
- Canada Infra Bank Hits Political Headwinds
- Sâo Paulo Water Operator Prepares For Private Investors
- Sumitomo Joins Brookfield In Brazilian Water
- Abertis Wins 720-km Sâo Paulo Toll Road