Utilities Transfered to Fund Construction Projects - Indianapolis

By Brian R. Hook, Midwest Construction, 04.01.2010


Mayor Greg Ballard signed a memorandum of understanding in March to transfer the city's utilities to Citizens Energy Group, which operates a natural gas distribution company and a district steam heating and chilled water provider in Indianapolis.

Ballard wants to use the $425 million the city would get from the transfer for infrastructure construction. Once the proposal gets all the necessary approvals, the city would receive $262.6 million payment from Citizens in two installments, plus up to an additional $50 million from the wastewater general fund that will remain with the city after the transfer.

"It will allow us to do the much needed construction at a........read more 

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  • 4/16/2010 3:39 PM construction equipment rental wrote:
    That's an amazing news, infrastructure construction is the most heavy form of construction because before it get's approved it needs funds, often huge funds so you don't see this kind of projects too often. The lucky construction company is almost sitting on a golden mine once this project is started and that's because it's a relatively long term commitment compared to other construction projects.
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  • 4/17/2010 3:59 PM Steve Cannonberg wrote:
    Yes. Great news for construction companies in Indianapolis!
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  • 8/30/2010 2:04 AM swiss watches wrote:
    Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon.
    Reply to this
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