EL RENO — The Oklahoma Department of Transportation is planning to build a new interchange on Interstate 40 as part of a unique public-private partnership with El Reno and Chesapeake Energy Corp., officials announced Friday.
Gov. Mary Fallin hailed the “historic” $24 million project that will help El Reno continue growing into a new hub for oil and natural gas service companies.
“It is a thriving area for business,” she said.
The state will add an interchange at Radio Road, with a new five-lane bridge straddling the interstate, while the city and Chesapeake will widen the road to four lanes in the area that is home to several of the company's affiliates.
Friday's announcement was made at the new headquarters of Performance Technologies LLC, a pressure pumping company that recently celebrated its first anniversary.
Chesapeake CEO Aubrey McClendon said the new interchange will help El Reno remain an attractive place for the oil and gas industry.
“The Radio Road and I-40 interchange is one of the most rapidly developing and important energy service sector corridors in Oklahoma,” he said. “Chesapeake and our partners are proud to invest alongside the state in a project that equips El Reno and the energy service sector for future growth and increased business.”