indiana toll road
2013-06-09: Indiana Governor Mitch Daniels did a great deal for state taxpayers and motorists in the mid-2006 deal to transfer the state's big Toll Road to a concession business, according to a thinktank report. Reason's Len Gilroy and David Aloyts stress the positive in an 8 page policy paper reviewing the longterm privatization of the Toll Road's business of nearly seven years ago.
Macquarie Atlas' (MQA) American toll concessions continue to lose traffic and in the case of the Indiana Toll Road to lose money. The company's 2011 report shows traffic losses continue for the third straight year. The Dulles Greenway in Virginia lost 2.5% traffic and the Chicago Skyway and Indiana Toll Road (ITR) in which MQA have a 50% share lost 6.5% and 2.8% traffic. They were able to boost revenue through toll increases.
The Indiana Toll Road Concession Company (ITRCC) has closed indefinitely a damaged high level ramp with the Borman Expressway I-80/I-94 to allow a time for a decision whether to repair or rebuild. The ramp at IC 21 in Lake Station allows traffic westbound on the Toll Road (ITR) to transfer onto the Borman Expressway I-80/I-94.
Macquarie Atlas reports traffic numbers this year are down on three US toll concessions but because of toll increases, revenues are up. In the western part of the Washington DC metro area Dulles Greenway traffic is down 5.9% second quarter this year compared to last, Indiana Toll Road traffic down 3.8% and Chicago Skyway traffic is off 5.5% - all compared to the second quarter of 2010.
Average daily traffic on the Greenway in Virginia this second quarter has been running 48.2k/day vs 51.3k in 2010Q2.
Debtwire, a London Financial Times wire service claims the Indiana Toll Road Concession Company (ITRCC) is in danger of defaulting on its debt as early as the first months of next year (2012). The wire says ITRCC has been rapidly "burning through" an interest reserve account which threatens to put it out of compliance with reserve provisions of its $4.1b in bonds.
Macquarie Atlas (MQA) reporting 2010 results to the Australian stock exchange show traffic up strongly in France especially truck traffic, slightly up in the UK but flat or down a bit in the US. Chicago Skyway traffic is down 4.9% to an average daily 44,987 from 47,296 in 2009. Dulles Greenway traffic is down in 2010 to 47,663 v 49,412 in 2009, a decline of 3.5%.
A Virginia couple involved in a nasty crash on the Indiana Toll Road (ITR) late November got their lost dog back by lucky coincidence. Driving home with his wife and dog to northern Virginia from Wisconsin after a Thanksgiving holiday, Brad Tetting swerved to avoid another car, lost control of his own, and "fishtailed" into oncoming ITR traffic. The car was completely wrecked.
Indiana Toll Road concessionaire ITR Concession Company are beginning what they call a 10-year Bridge Capital Improvement Program. Lane restrictions are in place at the worksite of the first project at milepost 4.18 Calumet Bridge in Lake County. It is the first of 18 bridges to be cleaned, repainted, repaired, and rehabilitated according to a ITRCC statement.
Several readers have forwarded us a Bloomberg News report with the all-capitalized headline "Illinois, Indiana Toll Roads May Join Macquarie Sales" suggesting we should follow up on this. Trouble is there's nothing there, no news, nothing new.
Cintra/Macquarie concessionaires at the Indiana Toll Road are starting work on a project to lower about 500m (1600ft) of the roadway by about 2.5m (8ft) where the pike is on the flight path of planes using nearby Gary Chicago Airport. The edge of the toll road is located only 700m (2300ft) from the end of the main 7200foot (2200m) main runway.