Ferrovial has been selected to deliver Tennessee’s $9.2bn I-24 Southeast Choice Lanes scheme in Nashville, the largest private investment in the US state’s history.
The project is also the first public-private partnership in Tennessee’s history, according to Ferrovial, a global infrastructure company.
The 26-mile scheme will add choice lanes in both directions along I-24 between Nashville and Murfreesboro, running from I-40 east of downtown Nashville to I-840 near Murfreesboro – targeting one of the region’s most congested corridors.
DriveTN, the Ferrovial-led consortium that also includes Transurban and Tikehau Star Infra, will finance, design, build, operate and maintain the scheme. It is projected to provide $24.8bn in concession value to Tennessee.
Ignacio Madridejos, chief executive of Ferrovial, said: “We are honoured to be selected to deliver this landmark transportation project for Tennessee, which will enhance mobility and support the state’s continued economic success.
“As communities across the US continue to grow, innovative infrastructure investment is essential to meeting future transportation needs. We look forward to delivering a project that improves connectivity and creates value for decades to come.”
Drivers who use the choice lanes will, it is said, benefit from more consistent travel speeds, even during peak periods, while those remaining in the free general-purpose lanes are also expected to see reduced congestion, according to Ferrovial.
The company has delivered similar schemes in other growing US metropolitan areas, including Dallas-Fort Worth, Charlotte and Washington, D.C. On Virginia’s 66 Express Outside the Beltway corridor, comparable express lanes have cut peak travel times by up to 50%.
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