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Indiana wraps up deal for Ohio River toll bridge

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Friday, March 29, 2013 - 8:09 am

INDIANAPOLIS — Officials in Indiana have completed a contract to build a new bridges over the Ohio River to Kentucky.

The Courier-Journal reported Friday the final contracts with WVB East End Partners, a consortium Indiana picked to design, finance, build, operate and maintain the bridge, have been finalized.

Indiana Department of Transportation spokesman said the deal is the last step in the bridge's financing, one of two to be built linking the states. This toll bridge will be between Utica, Ind., and Prospect, Ky.

WVB will use toll revenue appropriated by the Indiana General Assembly to pay off bonds with a total debt of $1.48 billion through 2051.

Construction is expected to begin in May.