GRANGER -- Trying to smooth out bumps on the road, Gov. Mitch Daniels said the Indiana Toll Road will be leased only if a company offers a subtantial bid.
At a news conference Thursday at the toll road headquarters, Daniels navigated through roadblocks in the way of the 10-year Major Moves transportation plan before the short Legislative session, which begins in January.
To pay for the plan, the state is considering a 75-year lease on the toll road, Daniels said. The bids for the lease of Indiana Toll Road are due by Jan. 20.
The lease amount -- estimated to exceed $2 billion, according to Charles Schalliol, state budget director -- would help the state to cover a gap of $2.8 billion needed for the state's road projects for the next 10 years.
The lease would allow a private investor to run and maintain the road for several decades, as well as collect tolls.
It has been reported that four companies from Spain and one each from France, Hong Kong and Italy, along with Australian companies, are bidding for the Indiana Toll Road lease. Boise, Idaho-based Washington Group is bidding in cooperation with Spain's Abertis Infaestructuras SA.
As long as Hoosiers benefit from the lease of the toll road, it does not matter whether the money comes from overseas, Daniels said. It's a way to get back the money that has been outsourced overseas, he said.
Money received from the toll road lease would go to fund road construction in the state, including U.S. 31 improvements between South Bend and Indianapolis.
"This is the one way we will build 31," Daniels said.
The Indiana Toll Road lease will be a tough sell to the legislators, said state Sen. Marvin Riegsecker.
It's still a close call if the General Assembly will approve the plan to lease the road, he said.
Earlier this month, Indiana Democratic Party launched an online petition to prevent Daniels from leasing the toll road.
Daniels said it doesn't bother him.
"Their ideas are as bankrupt as the state government they left behind," he said about the state's Democratic party.
If the Legislature does not give its blessing to Daniels' plan, he has some other ideas to raise funding for the state's infrastructure. But, he said, he wanted to see if this plan works.