| Code: 79511 |

TIN news:   Illinois Governor Bruce Rauner plans to construct the first public-private partnership (P3) managed lane project in the state.
The P3 managed lane will be added to a section of Interstate 55 (I-55) in the Chicago region.
The scope of the project will include the addition of at least one lane in each direction along a 25 mile stretch that connects Interstates 355 and 90/94.
"This project signals a new way of doing business at IDOT and a model for improvements throughout our system."
The congested 25 mile section handles approximately 175,000 vehicles each day.
The project also involves options for adding tolled or non-tolled carpool lanes, in addition to express toll lanes.
A federal environmental study expected to be completed this year will decide if the lanes are to be built as toll roads or carpool lanes.
Illinois Transportation Secretary Randy Blankenhorn was quoted by Construction Dive as saying: "This project signals a new way of doing business at the Illinois Department of Transportation (IDOT) and a model for improvements throughout our system."
Expected to begin in early 2017 and slated to be completed by 2019, this P3-managed lane project is estimated to save approximately $425m in construction costs to the state, reported the Times Weekly.
Illinois Governor Bruce Rauner said: "By using existing resources to leverage private investment, we can build the type of infrastructure that allows Illinois to better compete in the 21st century.
"This is an innovative project that will create jobs, improve the region's quality of life and show that Illinois is open for business."
Legislative approval is required for the IDOT to begin the procurement process for the project.

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