Indiana has named a preferred bidder for its half of the Ohio River Bridges Project, crediting its chosen private partner for saving the Hosier State “cost [and] time”.
Winning consortium WVB East End Partners managed to trim about $300 million, or 23 percent, off the East End Crossing portion of the US mega-project with its $763 million offer, according to the Indiana Department of Transportation (INDOT).
East End Crossing – a public-private partnership (PPP or P3) first estimated to cost $1.3 billion – is the Indiana portion of the $2.6 billion bridge project developed in partnership with Kentucky, which has opted to pursue a design-build approach for its half of the venture.
INDOT also said WVB – teaming Walsh Investors, VINCI Concessions and Bilfinger Berger Project Investments (BBPI) – would complete construction ahead of schedule, outlining in its proposal a timetable that opened the bridge to traffic in October 2016, rather than June 2017.
“[The] Ohio River Bridges project will be completed dramatically under budget and ahead of schedule,” INDOT, in a press statement revealing its agreement with WVB, said.
INDOT said the Indiana Finance Authority (IFA), which selected WVB, will publish additional information on the proposal leading up to a December 3 meeting, when the IFA will make its agreement official.
In addition to WVB, three consortia had submitted a final request for proposals (RFP) for the project in October, including:
-East End Mobility Partners, a consortium including John Laing Investments, SNC-Lavalin Capital, and Zachery Resources;
-Ohio River Mobility Group, teaming ACS Infrastructure Development and Skanska Infrastructure Development;
-Ohio River Transportation Partners, a consortium with Balfour Beatty Capital Group, InfraRed Capital Partners and Kiewit Development Company;
The respective bid submitted by each consortium could not be ascertained. Will Wingfield, spokesman for INDOT, declined to comment.
Winning consortium member Walsh Investors is the investment arm of The Walsh Group, a family-owned contracting and construction outfit from Chicago.