The Illinois Department of Transportation (IDOT) has announced that 18 companies had expressed interest to develop the Interstate 55 expansion P3 project.

According to sources, AECOM, K-Five Construction, Macquarie Capital and Walsh Construction are among the companies interested.

The project would add a tolled express lane to the expressway’s existing median between Interstate 355 and Interstate 90/94, reducing congestion and making travel throughout the region more efficient. The 25-mile stretch accommodates 170,000 vehicles a day, with about 15 percent trucks, making it one of the most important commuting and freight corridors in the state.

IDOT must receive the approval from the General Assembly to move forward with the project. The total investment estimated for the project stands at US$425 million. 

As we reported in August, the Request for Information (RFI) stated thta companies would help IDOT in creating criteria and an overall plan to design, build, finance, operate and maintain (DBFOM) the managed lanes on I-55 if the project is pursued as a P3.

IDOT stated:

"The enthusiastic responses further demonstrates the value in the project as well as a strong desire from project developers to have a hand in delivering the best possible outcome for the people of Illinois."