Equitix increases commitment to I-75 Modernisation Project in the U.S with a 100% stake

John Laing (JLIL), the holding company for joint shareholders Equitix and John Laing (which is wholly owned by KKR) announce the acquisition of the remaining shareholder stakes in the I-75 Modernisation Project in Michigan, U.S.

The project involves the modernisation of a crucial corridor – Segment 3 of the I-75 in southeast Michigan, near Detroit – to include a portion of the state’s first High-Occupancy Vehicle (HOV) lane and a critical drainage tunnel under the freeway designed to alleviate flooding in the corridor.

The project involved the complete reconstruction of 5.5-miles of I-75 from 8 Mile Road to north of 13 Mile Road. The modernisation project deploys innovations that ease congestion, enhance safety, reduce cost and was delivered on an expedited five-year schedule.

Prior to this acquisition, a 70% stake was held in Oakland Corridor Partners, playing a role in financing and actively managing delivery of critical long-term improvements to this highway project, accelerating completion of the upgrade by up to 12 years.

Equitix CIO, Achal Bhuwania said, “This additional stake in the I-75 project cements our continued commitment to the North American market while fulfilling the next stage of the asset’s life to improve efficiencies, enhance safety measures and boost connectivity for local communities.”