Tom Warne Report, 14 September 2012
The Indiana Toll Road is ditching the iZoom tolling services, and joining the network of 22 agencies in 11 states using the E-ZPass network. In March, the Indiana Toll Road (ITR) Concession Co. became the first private organization in the nation to be accepted into the E-ZPass network. ITR Concession Co. is a consortium of Cintra of Spain and Macquarie of Australia, which paid $3.85 million in upfront cash in 2006 to maintain and operate the toll road through 2081, in exchange for toll revenue.
The $40 million conversion to E-ZPass involves removing iZoom and iZoom signs, and launching a new website, but user accounts and payments will not be affected. All E-ZPass facilities will accept transponders issued by the Indiana Toll Road.
The state’s agreement with the ITR Concession Co. allows the investor to more than double tolls in the first five years, and then increase future tolls based on inflation, or about 3 percent each year. The lease agreement also contains a non-compete clause.