Ferrovial wins contract for £754m road project in Texas, US

WCN Editorial Team 14 Aug 2019 NORTH AMERICA TRANSPORT INFRASTRUCTURE

Spanish company Ferrovial, through a consortium led by its toll road subsidiary Cintra Infraestructuras, has won a contract worth $910m (£754m) to build and operate a new extension (segment 3C) to the North Tarrant Express in Texas, US.

The consortium, NTE Mobility Partners Segments 3, includes the Meridiam fund and pension fund management firm APG.

Ferrovial Agroman will be in charge of designing and building the road segment.

Work involves the construction of an 11km stretch of road from Heritage Trace Parkway near US 81/287 to Eagle Parkway in Denton County.

Under the terms of the contract, existing lanes will be upgraded and will continue to be toll-free. Two tolled managed lanes will be built on either side, as well as on-ramps.

Construction has already commenced and the road is expected to be open to traffic by the end of 2023. The concession contract will end in 2061.

The project has achieved financial close and will be financed through equity contributions of $160m (£132m) by the partners and the issuance of private activity bonds (PAB) worth $750m (£621m).

According to Ferrovial, this will be the fourth managed lanes project to be operated by Cintra in the Dallas-Fort Worth (DFW) area.

The company currently operates the LBJ Express, the North Tarrant Express (NTE) and NTE 35W, an extension of the NTE (segments 3A & 3B).

It currently manages more than 1,468km of toll roads in 24 concessions in Canada, the US, Europe, Australia and Colombia.

Previously, PLW Waterworks, owned by Ferrovial Agroman subsidiaries Webber and Cadagua, won contracts for two water treatment plants in Texas, which form part of the expansion of Houston’s Northeast Water Purification Plant.

The two contracts are together worth $312m (£259m).

Firstly, the company will execute two contracts to install more than 37,000 linear metres of underground pipelines, and build a new treated water pumping station, with a capacity of 1.21 million m³ per day. The contracts are expected to be completed in 2024.

Secondly, PLW Waterworks will build a surface water treatment plant in the city of Pearland, south of Houston. The work includes pre-sedimentation and processing facilities, pumping stations and pipelines. The plant is expected to be ready in 2023.

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Image: Ferrovial bags contract for £754m road extension project in Texas, US. Photo: Courtesy of Ferrovial.

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