Major Moves

Post-Bankruptcy, Toll Road Gets New Management

May 29, 2015
Wikimedia Commons

Eight months after previous management filed for bankruptcy, the Indiana Toll Road has a new operator.

IFM Investors took ownership of the operation of the road and its pavilions after the state finance board approved the deal earlier this month.

The change in ownership comes after the original operator, ITR Concession, declared bankruptcy on more than $6 billion in debt last September.

That group will continue operating the toll road under the ownership of the new company.

Brandon Smith / Indiana Public Broadcasting

Governor Mike Pence says he wants the State Budget Committee to release the second half of the Major Moves 2020 fund.  That would amount to $200 million dollars for road projects.

Two years ago, lawmakers put aside $400 million into what they called the Major Moves 2020 fund.  It was meant for long-term, future projects.  Pence last year secured the release of half of the fund to add lanes to major interstates.  The governor Tuesday announced he will ask the State Budget Committee to approve the transfer of the remaining 200 million.  He says it will be used for capacity building.