Benzinga | Nov 2, 2020 04:28PM EST

Infrastructure And Energy Alternatives Reports $550M Joint Venture With FH Paschen For West Lake Corridor Rail Expansion In Indiana

Infrastructure and Energy Alternatives, Inc. (NASDAQ:IEA) ("IEA" or the "Company"), a leading infrastructure construction company with renewable energy and specialty civil expertise, today announced a joint venture with F.H. Paschen for the West Lake Corridor rail expansion awarded by the Northern Indiana Commuter Transportation District (NICTD) and valued at over $550 million. The contract was secured by Ragnar Benson, a subsidiary of IEA that provides heavy- and light-rail construction, and F.H. Paschen, a general contractor and construction manager with over 110 years of experience in the construction industry.

F.H. Paschen and Ragnar Benson together serve as the design build construction team for the West Lake Corridor project, which will provide a vital transportation link that connects Northwest Indiana to Chicago and Cook County, Illinois. The project includes the construction of an eight-mile single-track branch extension of the existing South Shore rail line and four additional rail stations to reach high-growth areas in Lake County, Indiana. In addition, the joint venture team will construct a maintenance and storage facility with a layover yard and three traction power substations to power the overhead contact system.

Work commenced on the project in October 2020 with an anticipated completion date in October 2024. The rail extension was designed with a focus on sustainability and wetland mitigation. The construction will incorporate best practices to protect the environment while at the same time expand NICTD's service coverage, improve mobility and accessibility to the region and stimulate local job creation and economic development opportunities for Lake County.

"After an extensive design/build procurement, the F.H. Paschen Ragnar Benson Joint Venture was determined to be the best value proposer for the project. Through spending extensive time with their team, we have a high degree of confidence that they will be a true partner to complete this project on-time and within budget," said Mike Noland, NICTD'S President.

Chris Beck, NICTD's Project Manager for the West Lake Corridor project, said "NICTD is excited to be working with the F.H. Paschen Ragnar Benson Joint Venture team to build this monumental project, which is so important to residents of Indiana. Designing and building a commuter railroad involves many complicated civil and electrical aspects, and we are confident that together the team will be very successful."

F.H. Paschen is an industry leader in infrastructure construction, rehabilitation, renovation and repair work for the public and private sectors. The company is known for its abilities to provide customers with alternative delivery services, such as Design-Build Construction, Job Order Contracting and Construction Manager at Risk. F.H. Paschen has extensive construction experience in heavy civil transportation (including major highways, bridges, and mass transit systems), public works projects, municipal buildings, commercial properties and private institutions.

"We are excited to move forward on the West Lake Corridor project," said Jim Blair, F.H. Paschen's President. "We look forward to partnering with NICTD, Ragnar Benson and local businesses throughout the project and for many years to come."

Adding to F.H. Paschen's comments, Brian Hummer, IEA's Executive Vice President, noted, "Through this important contract, IEA continues to strengthen our position in the rail construction market. We are honored to partner with F.H. Paschen in our home state of Indiana to provide faster and more economical access to Chicago. Our Ragnar Benson team brings the experience, resources, and the capacity to deliver a successful project that will strengthen the connection between Chicago and Northwest Indiana while bringing additional economic opportunity to the region."

IEA was recently ranked 16th for mass transit and rail and 38th for transportation amongst Engineering News-Record's 2020 Top 400 Contractors. For more information on these rankings, please visit enr.com.