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[INDOT] Indiana Closes on Successful East End Crossing Procurement
Start Date: 3/28/2013Start Time: 12:00 AM
End Date: 3/28/2013End Time: 11:59 PM
Entry Description

Indiana Closes on Successful East End Crossing Procurement

 

CLARK COUNTY, Ind. – The Indiana Finance Authority (IFA) has reached Financial Close on the East End Crossing of the Louisville-Southern Indiana Ohio River Bridges Project, marking the end of an aggressive proposal and selection process.

 

“Indiana’s public-private partnership procurement for the East End Crossing is being hailed as a model for other states,” said Indiana Public Finance Director Kendra York. “Indiana kept the project on schedule and received responsive proposals from all four short-listed teams – a first for a P3 procurement in the United States.”

 

WVB East End Partners – a team of Walsh Investors LLC, VINCI Concessions and Bilfinger Project Investments – was selected for its innovative proposal to design, build, finance, operate and maintain the East End Crossing for $224 million less than previously estimated.

 

WVB is contributing $78 million of private equity and has raised $702 million in tax-exempt Private Activity Bonds. The IFA and Indiana Department of Transportation (INDOT) will make $392 million in milestone payments across the construction period. WVB expects to mobilize construction forces in May.

Contact Information:
Name: Will Wingfield
Phone: 317-233-4675
Email: wwingfield@indot.in.gov
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  • Agency Name
    Transportation, Indiana Department of

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