$4bn Ohio Bridges PPP approved

The Ohio River Bridge Project has been approved funding through a tolling mechanism.

In a unanimous decision, the Louisville and Southern Indiana Bridges Authority said it expects to receive US$2.2bn in user fees for the $4bn cost of the scheme.

The tolling amount provides a revenue stream to encourage private investors to finance construction through bond purchases, said the authority’s executive director Steve Schultz.

Construction includes a downtown bridge for Interstate 65 traffic, an East End bridge that will connect Interstate 265 in Kentucky and Indiana and a reconfiguration of the Interstates 65, 64 and 71 junction.

Work is expected to begin in August 2012 and be completed by June 2022.