The Ohio River bridges project is ahead of schedule and under budget according to an updated financial report.
The Courier-Journal reports the project will cost about $240 million less than previous projections, thanks to efficiencies in design and construction. The savings bring the total cost to about $2.34 billion.
Most of the joint Kentucky-Indiana project could be complete by the end of 2016, months ahead of schedule.
Kentucky is in charge of building a new bridge for northbound Interstate 65 traffic; a renovated and reconfigured John F. Kennedy Memorial Bridge for southbound traffic; and improved downtown interchanges in Louisville and Jeffersonville, Ind.
Indiana is in charge of building a new bridge and approaches to connect the Gene Snyder Freeway in Kentucky with the Lee Hamilton Highway in Indiana.
Indiana Gov. Mike Pence pledged Wednesday that a new Ohio River bridge east of Louisville will be built under budget and on time, as decades of talk is turning into action with construction starting on the span that will connect Indiana and Kentucky.
Standing on a bluff overlooking a wide stretch of river where the East End Bridge will go up, Kentucky and Indiana officials applauded the cross-river cooperation that overcame financial obstacles for a project that has been discussed since the late 1960s. Pence said the bridge, carrying a construction price tag of $763 million, will promote job growth and opportunities that play to the region's strengths.
"It was a dream that two states could come together, could put aside regional competitiveness and political differences and accomplish something that would benefit all of the people of our region," Pence said. "Today that dream is finally beginning to become a reality."
After months of site preparation and pre-construction work, crews will begin actual construction work next week, officials said.
Repairs on a closed Ohio River bridge that runs between Louisville and Southern Indiana are about half way done. The Prime contractor handling the repair project says the work will be finished by the start of March.
Workers have been on the job seven days a week, twelve hours per day, to try to complete work on the Sherman Minton Bridge. The Interstate 64 span was closed in September after a crack was found on a steel support beam.