Constructing new transmission lines requires various mechanical, protection and control facilities, therefore, it is expensive. Significant cost and shortage of government investment are two factors that prevented proper expansion of transmission lines. Due to recent increase in electricity consumption as well as power production in power plants, the need to invest for constructing new transmission lines has been increased. In this aspect, presence of private parties in transmission expansion planning is one of the main approaches to overcome difficulties associated with constructing new transmission lines. However, power system restructuring and deregulation has increased uncertainties in transmission expansion planning and made investment in electrical transmission lines more complicated and less appealing for private parties. In this paper, a comprehensive model for transmission expansion planning and congestion management is proposed such that despite various uncertainties, economical and technical issues make the transmission expansion planning more appealing for private parties. To do that, a multi objective programming problem which is based on Bat Inspired Algorithm is proposed.Three objective functions including minimizing investment cost, minimizing lines congestion cost and maximizing the investment from private parties for constructing transmission lines are considered.The proposed optimization problem is a nonlinear and non-convex multi-objective optimization and accordingly, a bat inspired based algorithm is proposed for solving it. For accelerating the optimization process and preventing local optimum trapping, new heuristic approaches are included to the original algorithm. Solving the multi-objective optimization problem using the proposed algorithm, results in several optimal plans showing compromise between objective functions. The final plan, among the generated plans, is selected using a max-min fuzzy decision making. The proposed method is applied on the IEEE 24 bus test system and effectiveness of the proposed method is verified. Simulation results show that in the presence of various uncertainties, the proposed algorithm in addition to minimizing the investment and reducing the congestion costs identifies low risk and profitable transmission lines to be invested by private parties.