Chicago interchange project sees costs escalate

A huge jump in costs in threatening plans to build a new cloverleaf interchange in the Chicago area.
February 16, 2012 Read time: 1 min
RSSA huge jump in costs in threatening plans to build a new cloverleaf interchange in the Chicago area. The project originally was expected to cost US$580 million, however it is now likely to cost up to $700 million to construct. The interchange will provide a connection between the Tri-State Tollway and Interstate 57. But because of the massive increase in the expense of the project, it may no long meet requirements for federal funding. As a result, the existing financial plan may be declared void. Meanwhile as any federal funding that is offered has to be matched by local funding, there would still need to be a further $24 million of local funding, even if the existing financial support could be retained.

Related Content

  • Nigeria’s East-West route faces delays
    June 22, 2017
    Construction of the important East-West highway in Nigeria now looks to face serious delays.
    Read More
  • Navman Wireless wins award
    April 30, 2012
    Navman Wireless’ Qtanium 300 GPS construction fleet tracking system has won a 2011 Chicago Innovation Award set up to recognise the most innovative new products and services introduced by Chicago-area companies. The Qtanium 300 is claimed to be the first universal construction fleet tracking system, making it possible to monitor actual equipment usage and associated costs for all makes and models of construction equipment from a single application. As part of the company's flagship OnlineAVL2 fleet tracking
    Read More
  • MPA calls on new London Mayor to safeguard aggregate wharves/depots
    May 12, 2016
    Housing is, rightly, the new London Mayor Sadiq Khan’s top priority, says the UK’s Mineral Products Association (MPA). It points out that delivery of much-needed new housing and infrastructure depends on a steady and adequate supply of construction aggregates and other essential mineral products such as concrete blocks and mortar. Wharves and rail depots play a key role in this, enabling the sustainable supply of bulk materials by rail and ship, delivering close to the market, significantly reducing t
    Read More
  • David Barwell suggests six steps for closing the UK funding gap
    January 11, 2019
    Six steps for closing the UK funding gap Plenty of private money is seeking UK investment opportunities. The government and the infrastructure sector in general must make projects more attractive, writes David Barwell* It is widely acknowledged that the UK faces mounting economic, environmental and social problems if the nation's infrastructure fails to meet present and future demands. Government estimates propose that almost €561 billion is required to bridge the infrastructure funding gap. As part o
    Read More

Highlighted Content